The Impact of Online Recommendations and Consumer Feedback on Sales
The Impact of Online Recommendations and Consumer Feedback on Sales
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发表时间：
2004
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通讯作者：
P. Chen;Shin-yi Wu;Jungsun Yoon
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作者：
P. Chen;Shin-yi Wu;Jungsun Yoon
质量的不确定性和从海量信息中识别相关信息的高搜索成本可能会阻止客户购买。认识到这种搜索质量信息和相关信息成本的潜在负面影响，公司开始投资创建一个虚拟社区，使消费者能够分享他们的意见和经验，以减少质量的不确定性，并开发推荐系统，帮助客户识别他们可能感兴趣的商品。然而，人们对这些努力的有效性知之甚少。本文基于亚马逊网站的数据，实证研究了推荐和消费者反馈对销售的影响。我们的研究结果表明，更多的推荐确实提高了亚马逊的销售额；但是，消费者的评价与销售额没有关系。另一方面，消费者评论的数量与销量呈正相关。我们还发现，推荐对不太受欢迎的书比对更受欢迎的书更有效。这与搜索成本的论点是一致的：消费者搜索不太流行的书籍的成本可能更高，因此他们可能更依赖于推荐来定位感兴趣的产品。
Quality uncertainty and high search costs for identifying relevant information from an ocean of information may prevent customers from making purchases. Recognizing potential negative impacts of this search cost for quality information and relevant information, firms began to invest in creating a virtual community that enables consumers to share their opinions and experiences to reduce quality uncertainty, and in developing recommendation systems that help customers identify goods in which they might have an interest. However, not much is known regarding the effectiveness of these efforts. In this paper, we empirically investigate the impacts of recommendations and consumer feedbacks on sales based on data gathered from Amazon.com. Our results indicate that more recommendations indeed improve sales at Amazon.com; however, consumer ratings are not found to be related to sales. On the other hand, number of consumer reviews is positively associated with sales. We also find that recommendations work better for less-popular books than for more-popular books. This is consistent with the search cost argument: a consumer’s search cost for less-popular books may be higher, and thus they may rely more on recommendations to locate a product of interest.