On average, 4 out of 5 Yelp visitors make a purchase decision immediately.According to Alexa, Yelp is a leading and most visited website in the US.Businesses realize the importance of bagging that premium position to promote the business and attract more consumers. As per the latest data, about 78% of the reviews on Yelp are not related to any particular brand. The reviews on Yelp are not just limited to restaurants, local businesses, and shopping ventures, but entrepreneurs, small companies, and hotel owners. It has been of use for consumers, businesses, and competitors to track and be aware of their success rates in the market. ( boostmedical) Today, Yelp receives a maximum of 184 million reviews from businesses and consumers worldwide.The other categories which followed were the shopping and home services. ( boostmedical) As per another study conducted in September 2019, 49% of the total reviews on Yelp is about restaurants.Upon browsing through the reviews posted on the platforms, consumers gain more confidence and trust in a particular business. A 2020 study showed that 85% of consumers were more inclined to purchase after visiting the Yelp platform.With every new star rating that a business earns, it experiences a boost in revenue. ( Nasdaq) Businesses around the world have witnessed tremendous growth, and their revenues were up by 9%, and Yelp’s business reviews were instrumental in achieving the results.By the end of 2019, there was an 18% revenue boost.The recorded revenue is about 91% and 97%, respectively. In the year 2019, there was an increase in revenue through sales made by advertisements on Yelp websites and mobile applications.A 2019 study indicated that there was an increase in the total net revenue of Yelp users by about US$1,014.19 million. ( Nasdaq).In 2019, Yelp users saw a steep increase of US$1.1 billion in net revenue.The Yelp studies have shown several healthy and wealthy business economies like those in Portland, San Francisco, New York, New Zealand, Milwaukee, and several others. Economic business data analysts study the reviews and ratings posted on the Yelp platform with the help of its Yelp Economic average indicator. Source: Revenue statistics of business as per Yelp ratings:Įach year Yelp collects the review data and does a study of the local business health. The timeline graph shows a 17% increase in the review posting in 2019 while comparing it to 2018, which was 177 million. The cumulative review posting from 2009 to 2019 shows a consistent review posting over the years. ( Statista)Ĭumulative number of reviews from 2009-2019 In a recent 2020 study showed that about 45% of online consumers chose Yelp for their online reviews before purchase.About 69 million users access Yelp by desktop per month.By the end of 2019 about 205 million reviews posted on Yelp.( Statista).In a month about 54.01 million users around the World access Yelp through their desktops.Around the globe, about 76.75 million users access Yelp websites, platforms, and mobile applications each month.
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