Yelp's Hidden Headwinds: Declining User Traffic and Aging Reviews
Yelp made structural changes during COVID that improved performance, but there are major obstacles to growth going forward.
- Yelp did many things right during COVID, reducing sales expenses and increasing income.
- Yelp also improved its relationship with local businesses, partly by introducing new and more valuable products for merchants.
- But Yelp's user growth and review volume have stalled, almost half of its reviews are stale. How it will reignite growth is unclear.