May 16, 2022
Peter Holten Mühlmann founded Trustpilot in 2007. Over the last fourteen years, he has led Trustpilot from a small Danish startup to a global FTSE-250 listed company. Day to day, Peter focuses on business strategy and product development and has overseen Trustpilot's expansion to 800+ employees across six countries. Peter joins me on Tech Talks Daily to talk about the story behind Trustpilot and how they are using techology to remove fake reviews.
We talk about a new Consumer Verification tool, an industry first in the world of online reviews. This tool is yet another step in Trustpilot's effort to protect and promote trust online – something that continues to be a struggle, as we've seen with companies like Fashion Nova hiding bad reviews from the public and businesses buying fake reviews. As a result, it's difficult for a shopper to trust what's said online.
We also discuss the growing issue of misinformation causing distrust between consumers and businesses and discuss some recent data Trustpilot has uncovered through recent consumer surveys. For example, 84% of Americans say they'd be motivated to prove their identity if it would protect others from misinformation online.
We explore how another recent survey about consumer grudges that revealed 66% of Americans aged 45-54 years old are less likely to regret holding a grudge than those aged 25-34 (37%) and 69% of Americans are holding a grudge, while 51% regret holding a grudge.