Trustpilot Statistics 2024: Revenue, Employees & Fake Reviews
Last Updated: September 26, 2024
Founded in 2017, Trustpilot is a consumer review platform based in Denmark. With approximately 1 million new reviews generated monthly, the site features evaluations of brands worldwide.
The platform provides both free and premium services to its business clients.
We will explore some key Trustpilot statistics for 2024 to help you grasp how the platform operates and what to expect in the coming years.
Let’s analyze the data.
Key Statistics
Approximately 31,313 businesses utilize Trustpilot’s paid options
Trustpilot features ratings for over 626,000 websites
As of December 2021, Trustpilot’s revenue reached $131 million annually
Currently, Trustpilot has over 669 employees working on the London-listed review platform
From July 2020 to January 2021, Trustpilot accumulated more than 25 million reviews
In 2020, Trustpilot removed over 2.2 million “fake” reviews
During the Covid pandemic, 22% of people began writing reviews, while 31% read more business reviews
94% of consumers prefer to stay loyal to companies with positive reviews
39% of individuals aged 55 and older reported that they trust reviews just as much as personal recommendations
62% of consumers oppose review censorship
Detailed Trustpilot Statistics for 2024
1. Around 31,313 Businesses Use Trustpilot’s Paid Options
Today, many people across the globe rely on online review platforms to determine where to spend their hard-earned cash, with Trustpilot being one of the most favored options.
The platform serves as an online review hub that is available to everyone—from consumers to businesses.
While customers can access the service for free, businesses can select between a free plan and paid services.
For those on a free plan, companies can invite customers to submit reviews; they can respond to all feedback and use the insights to understand their customers’ preferences better.
On the other hand, businesses with a paid membership can showcase customer reviews on their websites, helping them to attract more sales.
Current statistics demonstrate that as of 2021, nearly 31,313 businesses have opted for the paid version of Trustpilot to facilitate their review processes.
2. More than 626,000 Websites Are Rated on Trustpilot
As a highly recognized customer service platform, Trustpilot serves as a comprehensive resource for all inquiries related to reviews.
Whether it’s a technology-oriented website, an e-commerce platform, a blogging site, or a social media outlet, almost all reputable websites are rated on this platform.
This is precisely why many customers seek out Trustpilot reviews before finalizing their purchase decisions.
Recent data indicates that over 626,000 websites have been rated on this platform, with this figure continually increasing.
With each passing year, more websites are receiving ratings on this review platform to enhance feedback, encourage customer engagement, and assess results for continuous improvement.
3. The Total Revenue of Trustpilot as Of December 2021 Amounts to $131 Million, which Represents a 24% Increase in Revenue
Trustpilot, a premier online consumer review site, has recently disclosed a 24% growth in overall revenue for 2021, along with an advanced booking total of 150 million USD, indicating a 27% annual increase in average bookings.
In financial terms, the company reported a revenue generation of 131 million USD in the year 2021.
The review website, listed in London, mentioned that it crossed the 100-million mark in ARR (Annual Recurring Revenue) during the third quarter of 2020.
In 2020, Trustpilot accumulated a total Annual Recurring Revenue (ARR) of $119 million, increasing to $144 million by 2021.
This signifies an increase in Annual Recurring Revenue of 25 million dollars within just a single year.
4. Over 669 Employees Are Currently Working at The London-Listed Review Platform, Trustpilot
Even though Trustpilot has experienced significant growth…
Not only is it a startup organization, but it continues to operate like a startup, with a rapid pace of activity.
Those involved with Trustpilot have the chance to collaborate with talented individuals in a fast-paced and adaptive setting.
They are encouraged to unleash their creativity and manage tasks as they see fit. The Trustpilot workforce is driven and enjoys having fun, all while taking pride in their hard work to enhance the website.
Additionally, the company offers several social clubs for employees, featuring activities such as cycling, cooking, movies, and more.
Moreover, if a club doesn’t already exist, employees have the opportunity to create new ones and will receive funding and support from Trustpilot.
In terms of workforce numbers, Trustpilot currently employs approximately 669 individuals, and surprisingly, most of them express happiness in being part of the organization.
5. Trustpilot Received More than 25 Million Reviews from July 2020 to January 2021
Today’s consumers are more inclined to share reviews regarding their experiences with brands, whether those experiences are positive or negative.
This means if a customer has a fantastic experience, they are likely to leave positive feedback for the brand or business.
Conversely, if they experience dissatisfaction, there’s a high likelihood they will vent their frustration through negative reviews.
Sharing both good and bad experiences helps others make informed purchasing decisions, while also rewarding the business for its excellent customer service, which are some of the primary motivations for consumers to provide reviews today.
Statistics indicate that Trustpilot received an impressive 22.4 million service reviews between July 2020 and January 2021, within just a span of 6 to 7 months.
Additionally, during the same timeframe, customers left over 3 million product reviews on the platform.
6. Trustpilot Deleted Over 2.2 Million Fake Reviews in 2020
The Trustpilot Transparency Report 2020 highlights the growing concern regarding fake reviews and sheds light on the internal operations of the platform to showcase the protective measures implemented.
Peter Holten Mühlmann, the founder and CEO of Trustpilot, stated during the report’s launch that it was a groundbreaking publication released at a crucial time for both the platform and the online retail sector.
The year 2020 proved to be a prosperous period for online shopping, making it essential to maintain a transparent and open platform for consumers seeking reviews and recommendations.
According to the Transparency Report, over 39 million reviews were posted on Trustpilot, with nearly 2.2 million identified and removed for being fraudulent or harmful.
This implies that 5.7% of all reviews on the platform are inauthentic.
Employing fraud detection software, Trustpilot removed 1.5 million fake reviews, while around 650,000 were manually deleted.
7. 22% of People Started Writing, While 31% of People Tended to Read More Business Reviews During the Covid Pandemic
The COVID pandemic has brought significant changes to the world, and the realm of reviews is no exception.
Notably, 22% of consumers mentioned that they began writing reviews during this time to support local businesses.
On the flip side, readers are also quite active.
Recent reports indicate that about 31% of consumers are reading more business reviews, with 34% of them stating they consider fewer consumer-based testimonials when making decisions.
Further analysis of the decision-making process reveals that 67% of consumers are firm in their choice to disregard companies with negative reviews concerning health and safety practices.
8. 94% of Consumers Stick to A Company that Bags Positive Reviews
If you’re unaware of the influence that positive reviews can have, prepare to be amazed.
94 out of 100 customers—or 94%—tend to avoid businesses that are overwhelmed by negative reviews, and it’s likely that you might be among them.
Moreover, 80% of customers express a strong desire for high star ratings, deeming them very important in their decision-making process.
9. 39% of The Individuals Aged 55 or Above Claim to Prefer and Trust Reviews as Much as Personal Recommendations
Having explored various intriguing statistics, let’s delve into another surprising figure from Bright Local.
It may come as a shock that approximately 39% of customers aged 55 and older find reviews to be as reliable as personal recommendations. Even more impressive is that the percentage for the 35-54 age group reaches over 88%.
10. 62% of Consumers Are Against Review Censorship
Encountering businesses that censor reviews is not rare. Do let us know if you prefer such websites, or if you align with the 62% who oppose review censorship and fraudulent reviews.
It’s natural for an average individual to respond negatively to a website that hides reviews or neglects to gather them altogether.
11. Google Tops As the Medium for Learning About Customers Reviews
Worldwide, 63% of consumers reportedly rely on Google to access customer reviews for specific companies.
You might know someone who prefers Google for this purpose. Additionally, 54% turn to Facebook, while 32% opt for Yelp for the same reason.
Other Important Statistics
More than 93,131 unique domains are
On Trustpilot (not including subdomain)
More than 21% of websites recorded on Trustpilot are situated in the United Kingdom.
Approximately 28% of total customers on Trustpilot hail from the United Kingdom, followed by 25% from the United States and 6% from Denmark.
Trustpilot sees over 4 million reviews shared monthly by customers.
As of September 2021, Trustpilot ranks 393 according to Alexa ranking.
Conclusion
This data indicates that consumers globally place their trust in online reviews and feedback, particularly when it comes from Trustpilot.
Such reviews influence their decisions regarding purchases from specific brands.
Hence, companies with a greater number of reviews on the platform appear more relevant and up-to-date, which increases their chances of leveraging these reviews for enhanced profitability.
Moreover, by utilizing positive reviews received on Trustpilot, businesses can enhance customer perceptions.
Conversely, negative reviews offer insights into consumer opinions regarding the company and present an opportunity for addressing any concerns.
Sources
Thank you for taking the time to read this article titled: Trustpilot Statistics 2024: Revenue, Employees & Fake Reviews
Data originates from 2023 and 2024, with projections extending into 2025 and 2026. Additionally, we broaden the forecast data to cover 2027 and 2028.
* This information was taken from various sources around the world, including these countries:
Australia, Canada, USA, UK, UAE, India, Pakistan, Philippines, Indonesia, Nigeria, Tanzania, Kenya, US, United Kingdom, United States of America, Malaysia, U.S., South Africa, New Zealand, Turkey, United Arab Emirates.
Afghanistan, Albania, Algeria, American Samoa, Andorra, Angola, Anguilla, Antarctica, Antigua and Barbuda, Argentina, Armenia, Aruba, Australia, Austria, Azerbaijan.
Bahamas, Bahrain, Bangladesh, Barbados, Belarus, Belgium, Belize, Benin, Bermuda, Bhutan, Bolivia, Bosnia and Herzegovina, Botswana, Bouvet Island, Brazil, British Indian Ocean Territory, Brunei Darussalam, Bulgaria, Burkina Faso, Burundi.
Cambodia, Cameroon, Canada, Cape Verde, Cayman Islands, Central African Republic, Chad, Chile, China, Christmas Island, Cocos (Keeling Islands), Colombia, Comoros, Congo, Cook Islands, Costa Rica, Cote D’Ivoire (Ivory Coast), Croatia (Hrvatska), Cuba, Cyprus, Czech Republic.
Denmark, Djibouti, Dominica, Dominican Republic, East Timor, Ecuador, Egypt, El Salvador, Equatorial Guinea, Eritrea, Estonia, Ethiopia, Falkland Islands (Malvinas), Faroe Islands, Fiji, Finland, France, Metropolitan, French Guiana, French Polynesia, French Southern Territories.
Gabon, Gambia, Georgia, Germany, Ghana, Gibraltar, Greece, Greenland, Grenada, Guadeloupe, Guam, Guatemala, Guinea, Guinea-Bissau, Guyana, Haiti, Heard and McDonald Islands, Honduras, Hong Kong, Hungary, Iceland, India, Indonesia, Iran, Iraq, Ireland, Israel, Italy.
Jamaica, Japan, Jordan, Kazakhstan, Kenya, Kiribati, North Korea, South Korea, Kuwait, Kyrgyzstan, Laos, Latvia, Lebanon, Lesotho, Liberia, Libya, Liechtenstein, Lithuania, Luxembourg.
Macau, Macedonia, Madagascar, Malawi, Malaysia, Maldives, Mali, Malta, Marshall Islands, Martinique, Mauritania, Mauritius, Mayotte, Mexico, Micronesia, Moldova, Monaco, Mongolia, Montserrat, Morocco, Mozambique, Myanmar.
Namibia, Nauru, Nepal, Netherlands, Netherlands Antilles, New Caledonia, New Zealand (NZ), Nicaragua, Niger, Nigeria, Niue, Norfolk Island, Northern Mariana Islands, Norway.
Oman, Pakistan, Palau, Panama, Papua New Guinea, Paraguay, Peru, Philippines, Pitcairn, Poland, Portugal, Puerto Rico, Qatar, Reunion, Romania, Russia, Rwanda, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and The Grenadines, Samoa, San Marino, Sao Tome and Principe.
Saudi Arabia, Senegal, Serbia, Seychelles, Sierra Leone, Singapore, Slovakia, Slovenia, Solomon Islands, Somalia, South Africa, South Georgia and South Sandwich Islands, Spain, Sri Lanka, St. Helena, St. Pierre and Miquelon, Sudan, Suriname, Svalbard and Jan Mayen Islands, Swaziland, Sweden, Switzerland, Syria.
Taiwan, Tajikistan, Tanzania, Thailand, Togo, Tokelau, Tonga, Trinidad and Tobago, Tunisia, Turkey, Turkmenistan, Turks and Caicos Islands, Tuvalu, Uganda, Ukraine, United Arab Emirates (UAE), UK (United Kingdom), USA (United States of America, U.S.), US Minor Outlying Islands.
Uruguay, Uzbekistan, Vanuatu, Vatican City State (Holy See), Venezuela, Vietnam, Virgin Islands (British), Virgin Islands (US), Wallis and Futuna Islands, Western Sahara, Yemen, Yugoslavia, Zaire, Zambia, Zimbabwe.
Africa, Antarctica, Asia, Europe, North America, Australia (Oceania), Middle East, South America.
Post Title: Trustpilot Statistics 2024: Revenue, Employees & Fake Reviews
Last Updated: September 26, 2024
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