The Series B round for Witherspoon’s Draper James brand was led by San Francisco-based Forerunner Ventures.
Customer reviews are one factor in year-over year holiday sales that were up by 40% on the Tuesday before Christmas. The site adds nearly 1,000 customer reviews daily.
Product reviews posted at Newegg.com have topped the 500,000 mark, the online consumer electronics retailer says. They’re one factor that caused sales that to increase 40% year-over-year on Dec. 19, marking an all-time holiday season high.
“Customers want honest feedback and that is what the product reviews provide,” says Chad Chen, vice president of marketing. “With our transparent review format, you see both the good and the bad. Allowing both types of feedback along with a rating system provides the customer with an opportunity to make an informed decision before they buy.”
Products on Newegg.com, No. 10 in the Internet Retailer Top 500 Guide to Retail Web Sites, have both product reviews and an “egg” rating, a 1-5 ranking that averages all customer ratings of that item. Customer reviews consist of an overall rating for the product and “pros,” “cons,” and “other thoughts” that allow customer reviewers to provide more information. Overall, of the total products reviewed by score, with five eggs the highest rating, 72% have received a 5; 14% have received a 4, 5% have received a 3, 4% have received a 2, and 4%, a rating of 1, says Newegg, which developed its customer reviews application in-house.
The company notes that approximately 1,000 new customer reviews are posted on the site daily. Newegg screens the reviews for offensive language and other policy violations prior to being posted on the site.