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Oct 24, 2011 · Michael Luca shows just how much restaurant reviews on Yelp affect companies' bottom lines. The more difficult question: Are these ratings reliable as a measure of product quality?
In 2019, as many as 90% of consumers of small businesses used the internet to find a local business near them, and as many as 33% looked for a local business online every day. For most people, it takes about 10 reviews for them to deem a business trustworthy.
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Oct 5, 2011 · A new study by Harvard Business School assistant professor Michael Luca finds that a positive evaluation on the popular review site Yelp.com does, in fact, appear to lead to increased business for restaurants.
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State Department of Revenue, I present three key findings: (1) a one-star increase in Yelp rating leads to a 5-9 percent increase in revenue, (2) this effect is driven by independent restaurants; ratings do not affect restaurants with chain affiliation, and (3) chain restaurants have declined in