A new study from CHEQ and the University of Baltimore entitled “The Economic Cost Of Bad Actors On The Internet: Fake Reviews Online 2021“Noted that fake online travel reviews will have a direct impact on consumer spending of $ 4.1 billion this year alone.
The report was produced in collaboration with CHEQ, the leading customer acquisition security company (CAS) and Professor Roberto Cavazos, Executive in Residence at the Merrick School of Business at the University of Baltimore.
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Around 89 percent of consumers rely on consumer reviews, which influence nearly $ 4 trillion in online spending. How many of these reviews we rely on to book hotels, select destinations and restaurants, and buy products are fake, either from liars or from bots? At least 4 percent, which affects approximately $ 21.2 billion in purchases across all categories of e-commerce.
Major review sites differ in their specific percentage of fake reviews. About 8 percent of reviews on Yelp are fake; the highest percentage among the top four review sites. It is followed by Trust Pilot with 5.7 percent, Trip Advisor with 0.6 percent and Amazon with less than 1 percent.
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While fake reviews are usually written by humans, reviews filled with bots are more common on travel websites, which is why some websites require you to prove as a user that you are not a bot.
“Given the size of the market, ease of entry and immediate economic benefits, there is still a strong incentive for bad actors to engage in fake reviews in sectors such as travel,” said Professor Roberto Cavazos. “This complex market adversely affects our purchases, causes significant economic disadvantages, leads to real losses in sales for companies and significantly reduces confidence in online shopping.”
The fake online reviews and consumer tendency to distrust online reviews is another big reason why travelers should book with a travel agent.
also watch out for scams and Providing the latest health and safety information to travelers, travel consultants have the best resources and should be able to protect travelers from making wrong decisions based on online reviews.
If an advisor has not yet visited the destination or accommodation a traveler is considering, they will know where to find the best information available and it will usually be a travel advisor portal or official website. While the internet is a great resource, human contact is still the best way to find information when it comes to travel, especially with a travel expert.
To read the full report, please Click here.
