The Near Memo Review reliance up but trust is down; Amazon kills bookstores for Grocery Business, Nextdoor #s
The consumer review paradox.
More than three-fourths (77%) of consumers now "always" or "regularly" read local business reviews, according to a recent BrightLocal survey. That's up from 60% in 2020. At the same time, more of them (62%) believe they've encountered fake reviews. Where will this lead?
Despite surprise, Amazon’s closure of non-grocery businesses indicates they are getting serious. Is Amazon groceries really just an expensive hobby? Or is it the still developing the unique value (logistics & tech) add that Amazon needs to make a dent in the grocery world.
Nextdoor has never developed into the alternative local social network & their numbers show it.
After 12 years, there is still only $59m in quarterly revenue. While that represents a significant 47.9% increase, losses are up 100%. Their 36m weekly active users doesn’t bode well for their success as a social alternative or ad platform either.
The Near Memo is a weekly conversation about Search, Social, and Commerce: What happened, why it matters, and the implications for local businesses and national brands.
Near Memo Ep 54
Subscribe to our newsletters and other content at https://www.nearmedia.co/subscribe/