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Mining gold from Amazon reviews

Would you buy a product with an average three-star review on Probably not. In fact, makes of consumer electronics consider a rating of fewer than four stars the kiss of death.

Ratings and reviews have assumed such importance in e-commerce that an entire industry has sprung up around analyzing and interpreting them. And for good reason: A TrustPilot survey found that nearly nine out of 10 consumers regularly read reviews before buying products.

Whether you sell on Amazon, eBay, Walmart, or your website, you can use reviews to fine-tune your product (and pitch), fix problems before they become crises, and even discover new market opportunities. That’s what Thrasio does. The contract manufacturer started in 2018 selling a milk frother on Amazon and has since built a substantial business acquiring small e-commerce companies, aggregating their products, and applying specialists in marketing, search engine optimization, logistics, and other disciplines to boost sales. Today its business encompasses more than 200 brands.

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Source:: Computerworld