Bizrate Insights

Last updated
Bizrate Insights
Company typeSubsidiary
Industry Market Research
Founded1996 in Los Angeles, California, United States
FounderFarhad Mohit, Henri Asseily
Headquarters
Los Angeles
,
U.S.A.
ProductsSurveys, Online Ratings
Parent Dotdash Meredith

Bizrate Insights Inc., trading as Bizrate Insights, is a market research company that provides consumer ratings information to their customers. A Dotdash Meredith company, Bizrate Insights is based in Los Angeles, California.

Contents

Bizrate Insights provides services to both businesses and consumers in two different ways: consumers have access to ratings and reviews from verified buyers that help to inform their purchase decisions. [1] This feedback can be found on the Bizrate website and is syndicated across the web to major search engines such as Google [2] and Bing. Bizrate Insights provides businesses with customer satisfaction insights about consumers, advanced analytics, and competitive benchmarks across all types of online retail industries. [3] [4] [5]

Among others for publications and studies, Bizrate Insights provides industry research to analysts at Forrester Research, eMarketer, Digital Commerce 360 and Internet Retailer.

History

Binary Compass Enterprises, the original name for what would later become Bizrate, was founded in June 1996 [6] by classmates at the University of California Los Angeles and Wharton School of Business, Farhad Mohit and Henri Asseily. The pair used a school project they authored while attending the Wharton School of the University of Pennsylvania as the basis for their original model of a research company. [7] [8] [9] [10]

The first retailer reviews were collected in 1997 after launching and rebranding the website as Bizrate.com. Services were later expanded to include comparison shopping. [8]

In August 1999, during the earlier days of online shopping, Bizrate partnered with Consumer Reports to provide retailer ratings and research in both the print and online editions of the Consumer Reports Magazine. [7] [11] During this year, Bizrate also launched its "Don't get e-screwed campaign", bringing the site to the forefront as the place to find reliable feedback from other customers. [12] [8]

In 2004, Bizrate rebranded to Shopzilla, reflecting consumers’ increased focus on price comparison, and launched Shopzilla.com. During this time, the ratings and reviews side of the business was also rebranded to Bizrate Insights in order to maintain a clear definition of services. Bizrate Insights continued to provide retailer ratings and reviews to both Bizrate.com and Shopzilla.com. [13] In 2010, Bizrate Insights formed a partnership with Google to begin distributing retailer ratings and reviews from Bizrate Insights to Google Product Search and Google AdWords ads. [2] Since then, this has been expanded to include syndication to several partners across the internet. [8]

Between 2005 and 2016, before becoming part of Time Inc., Bizrate Insights, under Shopzilla, was included in a number of acquisitions and expansions including: [8]

Products and services

Bizrate Survey: The Bizrate Insights Buyer Survey consists of two parts. Part one of the Buyer Survey is conducted on the order confirmation page. It covers point-of-sale topics such as overall satisfaction, product selection, ease of finding products, and checkout. Part 2 of the Buyer Survey is emailed to consumers who responded to the first half of the survey. This post-order fulfillment survey measures repurchase intent, whether the product met expectations, customer support satisfaction, and on-time delivery. Each half of this survey allows customers to provide open-ended comments. Results from this feedback are syndicated to external seller ratings partners. [9] [18] [19]

Site Abandonment Survey: The Bizrate Insights Site Abandonment survey is available to all retailers who utilize the Buyer survey. This survey asks customers to provide feedback when leaving the site without completing a purchase. Topics include: visit intent, point of abandonment, reasons for abandonment, future purchase intent, and open-ended comments. This data is intended for use by the retailer only, to improve the site experience, and is not syndicated. [9]

Other Surveys: Bizrate Insights can also provide access to any number of other survey types and verticals based on partner needs including in-store/receipt, customer support, phone orders, and more. [1]

Reporting: The retailer data that Bizrate Insights collects is available for review via several standardized reporting mechanisms: [1]

Related Research Articles

E-commerce is the activity of electronically buying or selling products on online services or over the Internet. E-commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data collection systems. E-commerce is the largest sector of the electronics industry and is in turn driven by the technological advances of the semiconductor industry.

Dotdash Meredith is an American digital media company based in New York City. The company publishes online articles and videos about various subjects across categories including health, home, food, finance, tech, beauty, lifestyle, travel, and education. It operates brands including Verywell, Investopedia, People, The Balance, Byrdie, MyDomaine, Brides, The Spruce, Simply Recipes, Serious Eats, Liquor.com, Lifewire, TripSavvy, TreeHugger, and ThoughtCo. In August 2012, About.com became a property of IAC, owner of Ask.com and numerous other online brands, and its revenue is generated by advertising. In addition to its Manhattan headquarters, Dotdash Meredith maintains offices elsewhere in the New York metropolitan area, as well as in Des Moines, Iowa, and Birmingham, Alabama.

Amazon China, formerly known as Joyo.com, is an online shopping website. Joyo.com was founded in early 2000 by the Chinese entrepreneur Lei Jun in Beijing, China. The company primarily sold books and other media goods, shipping to customers nationwide. Joyo.com was renamed to “Amazon China” when sold to Amazon Inc in 2004 for US$75 Million. Amazon China closed its domestic business in China in June 2019 after the US severed all relations with china, offering only products from sellers located overseas.

Gmarket is an e-commerce website based in South Korea. The company was founded in 2000 as a subsidiary of Interpark, and was acquired by eBay in 2009, who subsequently sold it to Shinsegae at 3.4 trillion Korean Won.

Blue Nile is an online jewellery retailer founded in 1999. It is based in Seattle, Washington. In February 2017, it became a subsidiary of Bain Capital. In 2022, Blue Nile was acquired by Signet Jewellers.

<span class="mw-page-title-main">Connexity Inc.</span>

Connexity is a privately held Los Angeles operator of shopping web sites, including Shopzilla.com. Originally started as comparison shopping website Bizrate.com, the company changed its name to Shopzilla in 2004, and changed again to Connexity in 2014.

An online marketplace is a type of e-commerce website where product or service information is provided by multiple third parties. Online marketplaces are the primary type of multichannel ecommerce and can be a way to streamline the production process.

ResellerRatings is an online ratings site where consumers submit ratings and reviews of online retailers, and online retailers participate to respond to reviewers and to gather reviews from their customers post-purchase. As of July 11, 2017, the site had over 6.2 million user-submitted reviews for 202,000 stores.

<span class="mw-page-title-main">Taobao</span> Chinese website for online shopping

Taobao is a Chinese online shopping platform. It is headquartered in Hangzhou and is owned by Alibaba. According to Alexa rank, it was the eighth most-visited website globally in 2021. Taobao.com was registered on April 21, 2003 by Alibaba Cloud Computing (Beijing) Co., Ltd.

Social commerce is a subset of electronic commerce that involves social media and online media that supports social interaction, and user contributions to assist online buying and selling of products and services.

PriceGrabber.com is a price-comparison shopping site and distributed content commerce service founded in 1999 by former CEOs Kamran Pourzanjani and Tamim Mourad. The company partners with merchants, retailers, and sellers to provide information on a wide range of products. PriceGrabber.com was the first comparison-shopping engine to project tax and shipping cost information for a consumer during the price comparison process.

Free shipping is a marketing tactic used primarily by online vendors and mail-order catalogs as a sales strategy to attract customers.

<span class="mw-page-title-main">Quill Corporation</span> Office supply retailer based in Lincolnshire, Illinois

Quill Corporation is an American office supply retailer, founded in 1956, and headquartered in Lincolnshire, Illinois. A wholly owned subsidiary of Staples, Quill serves more than one million small and mid-sized U.S. business customers, with access to over one million assorted products.

Customer to customer markets provide a way to allow customers to interact with each other. Traditional markets require business to customer relationships, in which a customer goes to the business in order to purchase a product or service. In customer to customer markets, the business facilitates an environment where customers can sell goods or services to each other. Other types of markets include business to business (B2B) and business to customer (B2C).

Synapse Group, Inc. is a multichannel marketing company. Synapse is also the largest consumer magazine distributor in the United States, with access to over 700 magazine titles from major publishers, including Hearst Corporation, Condé Nast Publications, Meredith Corporation, and Time Inc. Synapse attracts subscribers for these publications by working through a number of non-traditional marketing channels, including credit card issuers, catalog companies, and airline frequent-flyer programs.

Anil Kamath is a web and technology entrepreneur. He is the founder of eBoodle.com and of Efficient Frontier. Kamath holds the patent on use of modern portfolio theory to the field of online advertising.

StellaService Inc. is a privately held American information and measurement company with headquarters in New York City, New York. The company measures and rates the customer service performance of online companies in a process audited by global accounting and auditing firm KPMG. Founded in 2009, it produces both Stella Metrics and Stella Connect.

Sitejabber is an AI-enabled platform that allows businesses and buyers to interact through online reviews. Sitejabber was founded in 2007 in San Francisco, California and has been described as "the Yelp for websites and online businesses". Sitejabber has a directory of over 180,000 companies, more than 8,000,000 reviews, with over 150,000,000 people having used the site to date.

Chuck Davis is an Internet entrepreneur, and Chairman and CEO of Prodege, LLC, an El Segundo, California-based online marketing and consumer research company.

Data-driven marketing is a process used by marketers to gain insights and identify trends about consumers and how they behave — what they buy, the effectiveness of ads, and how they browse. Modern solutions rely on big data strategies and collect information about consumer interactions and engagements to generate predictions about future behaviors. This kind of analysis involves understanding the data that is already present, the data that can be acquired, and how to organize, analyze, and apply that data to better marketing efforts. The intended goal is generally to enhance and personalize the customer experience. The market research allows for a comprehensive study of preferences.

References

  1. 1 2 3 Chang, Elizabeth; Hussain, Farookh; Dillon, Tharam (July 11, 2006). Trust and Reputation for Service-Oriented Environments: Technologies For Building Business Intelligence And Consumer Confidence. John Wiley & Sons. p. 374. ISBN   9780470028254.
  2. 1 2 Jhaveri, Kinnari (September 28, 2010). "Working With Bizrate for Trusted Seller Reviews and Ratings". Google Merchant Blog. Retrieved June 5, 2017.
  3. ↑ Fisk, Raymond; Grove, Stephen; John, Joby (2013). Services Marketing Interactive Approach. Cengage Learning. p. 288. ISBN   9781285663449.
  4. ↑ "Bizrate.com". Bloomberg. Bloomberg L.P. 2017.
  5. ↑ Wolpe, David (November 30, 1999). "A Closer Look at the Business Raters". Fool.com. The Motley Fool. Archived from the original on October 12, 2009. Retrieved June 5, 2017.
  6. ↑ Tam, Pui-Wing (September 16, 2002). "BizRate.com Offers Consumers A Way to Rate Online Retailers". Wall Street Journal. Retrieved June 7, 2017.
  7. 1 2 "Bizrate.Com". Gale Encyclopedia of E-Commerce. The Gale Group Inc. 2002.
  8. 1 2 3 4 5 "History Cheat Sheet - Shopzilla". Shopzilla.com. Shopzilla, Inc. September 3, 2011. Archived from the original on September 3, 2011. Retrieved June 5, 2017.{{cite web}}: CS1 maint: bot: original URL status unknown (link)
  9. 1 2 3 "How BizRate.com Infomediates Between Shoppers and Merchants". Knowledge@Wharton. Wharton School of the University of Pennsylvania. February 2, 2000. Retrieved June 6, 2017.
  10. ↑ Hamilton, David (May 18, 2000). "BizRate.com Offers Consumers A Way to Rate Online Retailers". Wall Street Journal. Retrieved June 7, 2017.
  11. ↑ Robert, Conlin (August 30, 1999). "BizRate.com Clasps Hands with Consumer Reports". E-Commerce News. ECT News Network. Retrieved June 7, 2017.
  12. ↑ Baye, Michael (2002). The Economics of Internet and E-Commerce. Elsevier. p. 74. ISBN   0762309717.
  13. ↑ Tedeschi, Bob (November 15, 2004). "For BizRate, a New Identity and a New Site, Shopzilla.com". New York Times. Retrieved June 6, 2017.
  14. ↑ "Shopzilla Wraps Up Bizrate Into Connexity Brand". socalTECH. Southern California: SOCALTECH LLC. June 10, 2014.
  15. ↑ "Time Inc acquires Bizrate Insights". Reuters. September 6, 2016. Retrieved June 5, 2017.
  16. ↑ O'Shea, Chris (September 7, 2016). "Time Inc. Buys Survey Company BizRate Insights". AdWeek.
  17. ↑ Beckerman, Josh (2016-09-06). "Time Buys Survey Provider Bizrate Insights". Wall Street Journal. ISSN   0099-9660 . Retrieved 2018-06-20.
  18. ↑ Parasuraman, A.; Grewal, Dhruv; Krishnan, R. (2006). Marketing Research. Cengage Learning. ISBN   9780618660636.
  19. ↑ Johnson, Bradley (May 15, 2000). "BizRate's e-commerce goal: Be like J.D. Power". AdAge. Crains Communications. Retrieved June 5, 2017.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.