As consumers continue to purchase goods online, there is always a risk of items being misrepresented or inauthentic, and to combat this rising issue, Fakespot debuted a new feature, dubbed 'Seller Rating.' The feature is available on Walmart, Amazon, and eBay and provides real-time analysis on sellers' approval ratings before consumers make a purchase, helping the avoid e-commerce scams.
Fakespot was launched by Saoud Khalifah who hoped to combat fake product reviews, but Khalifah soon discovered faulty reviews are only one component of e-commerce scams. Moreover, according to a recent report, "products purchased from third-party sellers on five major e-commerce sites, including Walmart, Amazon, and eBay, could be counterfeit — and harmful to your health." Therefore combating these faulty products is pivotal to keeping a reliable e-commerce structure.
Seller-Approving E-commerce Extensions
Fakespot Launched the ‘Seller Rating’ Feature for Walmart+
Trend Themes
1. Real-time Seller Ratings - The rising issue of misrepresented or inauthentic items in e-commerce creates an opportunity for real-time analysis on sellers' approval ratings, helping consumers make informed purchases.
2. E-commerce Scam Prevention - The need to combat e-commerce scams, such as counterfeit products, presents an opportunity for innovative solutions that provide reliable information and protect consumer interests.
3. Trust and Transparency in E-commerce - Ensuring trust and transparency in e-commerce platforms through features like 'Seller Rating' can enhance the overall user experience and strengthen online marketplaces.
Industry Implications
1. E-commerce Platforms - E-commerce platforms can leverage real-time seller ratings to enhance their marketplace offerings, providing a safer and more trustworthy online shopping environment.
2. Product Authentication Technology - The rising concern of counterfeit products on major e-commerce sites creates opportunities for innovative product authentication technologies that can verify the authenticity of goods.
3. Data Analysis and Consumer Insights - Data analysis companies can capitalize on the need for real-time analysis on sellers' approval ratings, providing valuable consumer insights and enhancing decision-making processes.