Product reviews and ratings: How does the interaction of two lead to higher sales?

Abstract

The preferences of people between online and offline buying of products and services are changing. More and more people are moving towards online buying of products. Apparels and accessories (60%), and Consumer electronics (45%) are the biggest and fastest growing sections of e-commerce. We have decided to include Consumer electronics in our research as because of the numbers above and as its life is around 2 years. This means that there will be a lot of Re-buys of these products. Further, Internet penetration is increasing steadily. It has risen from 4% (2007) to 47% (2021). Since Increasing Internet penetration will expose more consumers to online platforms, the number of online buyers would increase consistently. This means companies need to have a positive image on online platforms. Reviews and Ratings can convey the image to both companies and consumers, Hence, they are very important.