In today’s digital world, online reviews have become one of the most crucial instruments when it comes right to the sales landscape.
Modern buyers constantly look for various brand insights before making any purchase so that they can ultimately decide to go for a specific brand.
According to the latest reports, around 95% of consumers read online reviews before making any purchase, and 8% of them check these online reviews to uncover new businesses.
According to some trusted sources, consumers keep an eye on overall sentiment, star ratings, and the relevancy of the online review, that is, how recent the review was and its degree of accuracy, etc.
And that’s when the use of customer service software comes in.
Trustpilot is a Denmark-based consumer review website founded back in 2017. With around 1 million new reviews every month, Trustpilot hosts reviews of brands from all over the world.
The website offers both free and premium services to businesses.
We’ll be looking at some of the most important Trustpilot statistics for 2023 so that you can understand how the website is working and how it’ll work in the upcoming years.
Let’s crunch those numbers.
Key Trustpilot Statistics 2023
- Around 31,313 businesses use Trustpilot as of 2021
- More than 626,000 websites are rated on Trustpilot
- Trustpilot revenue as of December 2021 amounts to $131 million annually
- Over 669 employees are currently employed at the London-listed review platform, Trustpilot
- Trustpilot received more than 25 million reviews from July 2020 to January 2021
- The online review website Trustpilot deleted over 2.2 million “fake” reviews in 2020
- 22% of people started writing, while 31% of people tended to read more business reviews during the Covid pandemic
- 94% of consumers stick to a company that has positive reviews
- 39% of individuals aged 55 or above claim to prefer and trust reviews as much as personal recommendations
- 62% of consumers are against review censorship
Detailed Trustpilot Statistics for 2023
1. Around 31,313 Businesses Use Trustpilot
From customers to businesses, it’s an online review service that’s accessible to everyone.
While customers can use the service for free, businesses have the option of choosing either the free service or the paid ones.
In the case of a free plan, companies can invite their customers to add a review; these businesses can then reply to all the reviews and can use these reviews to learn more about the customers and their preferences.
Whereas, in the case of paid membership, businesses are allowed to show the customers reviews on their website, enabling them to gain more business.
Statistics show that with the day-to-day increase in the popularity of Trustpilot, as of 2021, nearly 31,313 businesses use the paid version of the service for review purposes.
2. More than 626,000 Websites Are Rated on Trustpilot
Trustpilot, being one of the most well-known customer service software, is a one-stop destination for all review-related queries.
Be it a tech-related website or an online shopping site, a blogging site, or a social media website, nearly all the reputed websites are rated on the platform.
And that’s why most of the customers look for reviews on Trustpilot before making any purchase decision.
According to the latest Trustpilot statistics and reports, more than 626,000 websites are rated on the platform, and the numbers are on the rise.
More and more websites are getting rated each year on the review platform for getting more reviews, promoting the best feedback, engaging with customers, and analyzing the results to improve further.
3. The Total Revenue of Trustpilot as Of December 2021 Amounts to $131 Million, that is, an 24% Increase in Revenue
Trustpilot, a leading consumer online review website, recently announced that its overall revenue increased 24% in the year 2021, with an advanced booking of 150 million US dollars, that’s a 27% rise in average booking every year.
Speaking of money value, the company reported that it generated a revenue of 131 million USD in 2021.
The London-listed review website said that it has surpassed the hundred million mark in ARR (Annual Recurring Revenue) in the third quarter of 2020.
Trustpilot amasses a total Annual Recurring Revenue (ARR) of $119 million in 2020, and the number increased to $144 million in 2021.
That means the Annual Recurring Revenue increased by 25 million dollars in just one year.
4. Over 669 Employees Are Currently Employed at The London-Listed Review Platform, Trustpilot
Although Trustpilot has grown above and beyond being just a startup organization, it’s still pretty much working as a startup with things happening at a very fast pace.
Employees engaged in Trustpilot has the opportunity to work with talented folks in a fast-moving and flexible environment.
They’re allowed to use their creativity and can manage things accordingly. The workforce at Trustpilot is ambitious and loves to have fun while being proud and working hard in making it a great website.
Apart from the actual work, the company has a number of social clubs, which include activities like cycling, cooking, movies, and more.
Moreover, employees can even create new clubs if the club doesn’t already exist and receive funds and support from Trustpilot.
Talking about the numbers, Trustpilot statistics show that, currently, around 669 employees work at Trustpilot, and surprisingly or not most of them are happy to be part of the company.
5. Trustpilot Received More than 25 Million Reviews from July 2020 to January 2021
Consumers these days are more inclined toward writing reviews whenever they experience something about a brand, be it negative or positive.
That means if any customer has had a wonderful experience, they’re likely to praise the brand or business with positive reviews.
On the flip side, if they’ve had a bad experience, there’s a high possibility that they’ll add a negative review out of rage.
Sharing a good or bad experience, helping others to make a better purchasing decision, and rewarding a business for its amazing customer service are some main reasons consumers nowadays like to add reviews after the end of their buying journey.
As per statistics, the platform has received a huge 22.4 million service reviews from July 2020 to January 2021, that is, in just 6/7 months.
It isn’t the only thing; customers had left more than 3 million product reviews on this platform during the same time span.
6. Trustpilot Deleted Over 2.2 Million Fake Reviews in 2020
The data published in the Trustpilot Transparency Report 2020 emphasizes the increasing problem of fake reviews and reveals the internal operations of the platform to demonstrate the protective measures that were being carried out.
The founder and Chief Executive Officer (CEO) of Trustpilot, Peter Holten Mühlmann, during the launch of this report, said that the report is the first of its kind that came just at the right moment for both the platform and online retail businesses.
The year 2020 was a successful year for the online shopping industry, and with that, it became highly essential to maintain an open and transparent platform for customers to look for reviews and recommendations.
According to Trustpilot’s Transparency Report, over 39 million reviews were posted on the platform, and among these, nearly 2.2 million were removed from the same for being bogus or harmful.
That means 5.7% of the total reviews on the platform are synthetic.
Trustpilot uses fraud detection software that had removed 1.5 million fake reviews, and around 650,000 were deleted manually.
Online Review Statistics for 2023
7. 22% of People Started Writing, While 31% of People Tended to Read More Business Reviews During the Covid Pandemic
The global pandemic, COVID, has significantly altered the world around, and the scenes are no different with reviews.
Interestingly, 22% of consumers said that they practiced review writing during this period with a view to helping local businesses.
Alongside the writers, the readers aren’t at rest either.
As per recent reports, the number of consumers who read reviews about businesses rests near about 31%, of which 34% claim that they tend to read fewer consumer-based testimonials towards their decision-making process.
Talking more about the decision-making process, 67% of consumers are those who are pretty sure not to even consider a company where the reviews for health and safety practices sit somewhere in the negative end.
8. 94% of Consumers Stick to A Company that Bags Positive Reviews
In case you don’t have much idea about the impact that positive reviews can impart, be ready to get awe-struck.
94 out of 100 customers, yes, that’s 94% seem to keep their distance from the business that loads with negative reviews, and it won’t be surprising if you’re one of them.
Digging a bit deep, 80% of customers say that they always hanker after high star ratings. They say it is very crucial for them to reach any decision.
9. 39% of The Individuals Aged 55 or Above Claim to Prefer and Trust Reviews as Much as Personal Recommendations
Having uncovered various astonishing statistics, let’s have a quick look at another surprising one from Bright Local.
It might sound a bit shocking, but around 39% of customers who’re aged above 55 say that for them, reviews are as trustworthy as personal recommendations are. Even the numbers for the lower age group reach the next level.
When you consider customers falling under the age group 35-54, more than 88% prefer reviews as much as personal recommendations.
10. 62% of Consumers Are Against Review Censorship
Coming across businesses that censor reviews is not uncommon. Let us know if you prefer such websites, or you’re like 62 percent who neither support review censorship nor tolerate fraudulent reviews.
Well, that’s pretty evident for a normal human being to react negatively towards a website that tends to keep reviews hidden or doesn’t bother collecting those at all.
11. Google Tops As the Medium for Learning About Customers Reviews
63% of consumers worldwide reportedly use Google as the medium for getting hold of the customer reviews about a particular company.
In fact, you might know somebody who prefers Google for similar practices. Apart from that, 54% employ Facebook, and 32% of others choose to go with Yelp for the same purpose.
Other Important Trustpilot Statistics for 2023
- More than 93,131 unique domains are on Trustpilot (excluding subdomain)
- Over 21% of the websites registered in Trustpilot are based in the United Kingdom
- Around 28% of total Trustpilot customers are from the United Kingdom, followed by 25% from the United States and 6% from Denmark
- Customers share over 4 million reviews per month on Trustpilot
- Trustpilot is positioned at 393 according to Alexa ranking as of September 2021
And with that, we’re at the end of our discussion. In this article, we’ve talked about some really important Trustpilot Statistics for 2023.
These statistics reveal that customers around the world trust online reviews and feedback, especially if these are posted on Trustpilot.
These reviews help them to decide whether to purchase from a specific brand or not.
Therefore, the more reviews one company has on the platform, the more relevant and current they appear to be, and the more chances they’ve to use these reviews to make more profit.
Again, if businesses use the positive review they get on Trustpilot, they can use the same to improve their customer perspective.
And they can use the negative ones to know what the consumers think about their company and provide you the opportunity to sort out any issues.