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Summary of Fake online reviews cost $152 billion a year. Here's how e-commerce sites can stop them

  • While there are well-intentioned valid users creating online reviews, there are also malicious users and bots.
  • Translating this into economic impact, the direct influence of fake online reviews on global online spending is $152 billion.
  • There are tools available to help mitigate these risks – not just on review sites but in the customer acquisition funnel and beyond.

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World Economic Forum
World Economic Forum
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Online reviews will influence $3.8 trillion of global e-commerce spend in 2021, according to a new study.
Using official figures and self-reporting by the world's leading e-commerce sites (including Trip Advisor, Yelp, TrustPilot and Amazon) on average we find that 4% of all online reviews are fake.
A significant reason is because the return on investment of soliciting fake reviews make them highly profitable. An extra star on a restaurant's Yelp rating can increase revenue by 5% to 9%.
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