Thursday, 21 April 2022 02:30 PM
Company Update
Revioly Gives Consumers The Edge on Fake Online Reviews
SAN MATEO, CA / ACCESSWIRE / April 21, 2022 / In October 2021, the Federal Trade Commission (FTC) came to the defense of consumers who were being purposely deceived by businesses. The FTC sent a Notice of Penalty Offenses to more than 700 companies, warning them of a penalty of up to $43,792 per violation if they used deceptive endorsements and fake reviews to cheat consumers and undercut honest businesses.
Homebound consumers made an online stampede during the 2019 holiday shopping season, and bad actors followed them, leaving millions of fake reviews. According to Bloomberg, nearly 42% of 720 million Amazon reviews were unreliable between March and September 2020.
"This bold move to hold renowned retailers accountable is a step in the right direction," says Dr. Reza Lavasani, Co-founder and CEO of Revioly, a free Chrome shopping extension that protects online shoppers against fake reviews and gives them the best prices across the internet in real-time.
Dr. Lavasani says, "consumers are misinformed daily, thinking online reviews are legitimate. Actually, every minute in the U.S., over 1100 products are purchased based on fake and misleading reviews."
Dr. Lavasani understands the cost of fake reviews firsthand. He lost more than $120K as a former online seller due to unscrupulous competitors who left negative fake reviews on his product. He was enraged and walked away from a promising plastic surgery career, determined to solve the problem of misinformed online shopping experiences.
Dr. Lavasani adds, "it's not just the reviews that could be misleading. Online prices can vary as much as 50% from site to site. Buyers are repeatedly presented with misinformation and price manipulation, and they take a gamble. Weeks later, when they receive their purchase, they discover the product is poorly made. While most retailers accept returns, strings may be attached. The result is a colossal waste of time and money.
An Adobe report predicts 2022 to become the first trillion-dollar year in e-commerce. Dr. Lavasani says, "Users have not had a trustworthy technology solution to give them access to transparent and trusted information. It's time to solve the problem of a misinformed shopping experience. My lifelong mission is to help people use their limited resources with confidence and trust."
ABOUT REVIOLY
Revioly is a browser plugin that protects online shoppers from fake reviews and provides them with the best prices across the internet. Using in-house ML/NLP empowered technology, Revioly gives a global solution for the two main biases: fake reviews and variable prices across the internet. Dr. Reza Lavasani is a medical doctor, co-founder, and CEO of Revioly. He and his team developed the free Chrome extension to save consumers from misinformation in virtual shopping environments. For more information, visit Revioly on Facebook, Instagram, or YouTube. For additional information, visit revioly.com.
CONTACT:
Reza Lavasani
[email protected]
1-888-738-4653
SOURCE: Revioly