Tag: #influencers

Influencers, retailers and pubs breach consumer laws – CCPC

The Competition and Consumer Protection Commission (CCPC) has today published details of 18 new enforcement actions taken against traders in Cork, Donegal, Dublin, Mayo and Offaly for breaches of consumer protection legislation.

The measures are the result of inspections and investigations carried out in-store and online by CCPC officers.

Influencers 

  • Conor McGregor was issued a compliance notice for failing to disclose the commercial nature of content posted to his Instagram account @thenotoriousmma (CN)
  • Suzanne Jackson was issued a compliance notice for failing to disclose the commercial nature of content posted to her Instagram account @sosueme_ie (CN)

Retailers

  • Circle K Holding Ltd t/a Circle K, Nassau St, Dublin 2: two fixed payment notices for failing to display product prices (FPN 1, FPN 2)
  • Ard Services Ltd t/a Circle K, Tallaght, Dublin 24: fixed payment notice for failing to display product prices (FPN)
  • The Flannels Group (ROI) Ltd t/a Flannels, St Patrick’s St, Cork: fixed payment notice for failing to display product prices (FPN)
  • Midlands Retail Investments Ltd t/a Leavy’s Centra, Tullamore, Co. Offaly: two fixed payment notices for failing to display product prices (FPN 1, FPN 2)
  • Western Flower Wholesalers Ltd t/a Temptation Jewellers, Claremorris, Co. Mayo: compliance notice for failing to display a notice about hallmarking (CN)
  • Euro General Retail Limited t/a Eurogiant, Letterkenny, Co. Donegal: three fixed payment notices for failing to display unit pricing (FPN 1, FPN 2, FPN 3)
  • The Dublin Mint Office: three compliance notices for

Pubs

  • Perfect Pubs 3 Ltd t/a The Auld Dubliner, Dublin 2: compliance notice for failing to display a price list (CN)
  • The Temple Bar Tavern Ltd t/a Fitzsimons Temple Bar, Dublin 2: compliance notice for failing to display a price list (CN)
  • Widestar Ltd t/a Dakota Bar, Dublin 2: compliance notice for failing to display a price list (CN)

Patrick Kenny, member of the Competition and Consumer Protection Commission (CCPC) said,

“Whether you’re a retailer, a publican or an influencer, you must comply with consumer law. Our officers carry out hundreds of instore and online inspections, sweeps and investigations every year, assessing thousands of products and transactions to make sure consumer rights are upheld across the economy.

“CCPC teams will be actively monitoring compliance by these traders. Failure to obey a compliance notice is an offence, and we will prosecute those who do not correct their practices.

“We look forward to the introduction of direct fining powers for the CCPC. The ability to issue significant fines is an essential addition to our enforcement toolkit.

“Consumer reports to our helpline and industry intelligence help us to identify patterns of non-compliance, and we’re grateful to everyone who takes the time to share valuable information with us.”

In addition to the enforcements published today, last month saw the CCPC successfully prosecute Brown Thomas Arnotts for breaching sales pricing legislation and car dealer Ionut Nitulescu for misleading a consumer.

Almost two-thirds of car TikToks are misleading

Now more than ever drivers are turning to TikTok for guidance and advice for all things relating to their cars. #CarTok has become a booming niche, with over 876 million videos around tips and hacks, interior trends and more for your vehicle [1].

With a growing number of #CarTok videos, Auto Trader, has analysed over 100 TikTok videos to determine whether the advice given should be followed by drivers or should be met with caution.

The #CarTok niches that should be met with caution

81% of car cleaning videos could lead to more damage to your vehicle

After analysing a sample of car cleaning related videos on TikTok, Auto Trader found that 81% contained tips which should not be followed as they could damage your vehicle.

Many of the ‘hack’ videos used household items like toothpaste or coconut oil to remove marks, while others advised drivers to use items such as a mop to clean the exterior of their car. In some cases, drivers were even advised to attach a toilet brush to a drill to remove dirt from their car mat. While drivers might find using common household objects to clean their cars appealing, Auto Trader advises people to always use specialist products to avoid potential damage from harsh chemicals or unsuitable objects.

90% of car repair videos should be met with caution 

TikTok searches for “car repairs” reach a staggering 365,000 searches each month, as an increasing number of drivers are turning to TikTok for help with their vehicles [2]. Many of the car repair videos analysed were from mechanics showing how to professionally fix damages such as car scratches or how to perform a car service. While these videos offer practical advice, these hacks shouldn’t be followed if you are inexperienced as it could lead to more damage in the long run.

The #CarTok niches with the most helpful advice

72% of car maintenance tips are helpful to drivers 

Many drivers may not understand the preventative maintenance checks they can do regularly to spot any issues ahead of time, with drivers increasingly turning to TikTok for advice on car maintenance.

Auto Trader’s research found that 72% of car maintenance videos are helpful to drivers. Many of these TikTok videos were created by professionals offering accurate, detailed and useful advice. Some tips included how to check your shock absorbers, prepping your vehicle for colder weather conditions and how to check your oil and tyre pressure.

68% of driving tips videos are helpful, especially for learner drivers

TikTok is known for its short form content, allowing complex information to be condensed into more manageable chunks. Many of the videos around driving tips are targeted towards learner drivers. 68% of these videos offer practical advice for learner drivers and are often created by driving instructors. They provide practical tips ahead of your driving test or how to know when you’re ready to take your test.

Erin Baker, Editorial Director at Auto Trader comments: “TikTok is becoming one of the go-to search engines, offering inspiration and education content from experienced creators. But drivers should be wary as many videos on TikTok are intended to shock audiences and to gain traction and engagement. We found that a staggering 59% of the videos offer advice that is not recommended to drivers and could potentially leave your vehicle with more damage if followed.”

Lease vehicle owners should be cautious of car hacks they see online. While these tips might offer quick, cost-effective solutions, they can lead to further damage that your lease agreement won’t cover. Although maintenance packages within your lease agreement cover basic wear and tear, drivers are advised to consult professionals to avoid any unexpected charges at the end of their agreement.

ASAI to implement Artificial Intelligence tools as new research reveals 63% of consumers are concerned by inauthenticity of social media influencers

Artificial Intelligence (AI) that evaluates activity by social media influencers and assesses if they are disclosing content correctly or not is to be implemented by the Advertising Standards Authority for Ireland (ASAI), the independent, self-regulatory body committed to promoting the highest standards of marketing communications in Ireland.

The announcement comes as the organisation unveils new research that reveals that a lack of authenticity, edited photos, too many paid ads and influencers misrepresenting real life are the top traits that cause annoyance amongst Irish consumers.

The survey was conducted as part of the ASAI’s ongoing commitment to understand consumer issues and concerns regarding influencer marketing, so the organisation can continue to proactively provide guidance in this area and increase the monitoring of those who consistently breach the advertising code. The survey results are based on the views of 1,000 participants across a broad demographic, interviewed online and representative of the adult population.

Nearly 7 in 10 (67%) are familiar with the practice of influencer marketing, with awareness being highest (75%) amongst those age 35 and under. A majority (71%) believe that when an influencer posts an ad, they are being paid by the brand to post positive content, which is slightly down from 80% in 2021.

While the research found that 84% of consumers use social media apps frequently and almost 40% of those use it for tips or inspiration, consumer confidence in what they’re seeing online is still extremely low, with just one in 10 consumers having trust in influencers’ posts, while over 62% believe that influencers post too much sponsored content. Echoing similar results to the recent Social Media Influencer Report released by the Competition and Consumer Protection Commission (CCPC) in December, this research reveals that there is a severe lack of trust between influencers and consumers.

Some of the top traits people find most ‘annoying’ from influencers according to the ASAI research include edited photos (67%) and influencers who do not come across as authentic (63%). Almost 60% of Irish consumers (56%) trust brand advertisements more than social posts by influencers. As was the case in 2021 according to the ASAI’s first Influencer Marketing Survey, over half (51%) of people in Ireland say they are concerned by the lack of transparency in influencer marketing.

The research also provides insight into people’s understanding of the use of hashtags and labelling in online advertising. Over half of consumers (55%) were able to reference various hashtags or phrases used to identify influencer advertising content – down 11% since last year. Among the most frequently recognised were #sponsored (61%), #ad (55%) and #paidpartnership (46%). However, 59% of people confirmed they didn’t recognise #sp and 54% didn’t recognise the hashtag #iworkwith. 71% of people were aware that when an influencer posts an affiliate link that they are being paid by the brand being linked.

While the majority of people might find these results surprising, the ASAI has found that some of the statistics in fact correspond with what the organisation has discovered already as part of their ongoing work in the area of Influencer Marketing. For example, the ASAI has strict guidelines around the disclosure of influencer content, having introduced revised guidance on the ‘Recognisability of Marketing Communications’ in 2021. This guidance note covered commercial content created on behalf of brands as well as commercial content created by influencers for their own products and services. However, the results of this research indicate that there is a need for additional guidance for both consumers and influencers, particularly around labelling, correct ways to disclose and to re-enforce the importance of influencers adhering to the Advertising Code.

The ASAI are working with the CCPC on updated guidance to ensure there is increased clarity in relation to responsibilities and requirements from influencers when advertising on social media.

Commenting on the research, Orla Twomey, Chief Executive of the ASAI, said:

“As we can see from this research over half those surveyed remain bothered by both the lack of transparency in influencer marketing and not being able to distinguish content from advertising, which echoes similar results to the Social Media Influencer Report released by the CCPC last December.  Both the ASAI research and the CCPC report show that there is a need for more transparency from influencers with regard to labelling their sponsored content clearly and correctly, as well as more guidance and education for both consumers and influencers alike in this space. To help with this we are planning to continue implementing the use of AI tools and working with the CCPC to develop further guidance.”

Kevin O’Brien, Member of the Competition and Consumer Protection Commission said:

“The CCPC welcomes the ASAI’s on-going work on consumers’ understanding of how influencers and brands operate on social media platforms. Similar to our own research, published late last year, the ASAI’s research reinforces that platforms and brands must take greater responsibility for educating and informing their users and consumers, and must support influencers  in clearly and consistently labelling paid content so that consumers are not misled. We look forward to working with the ASAI in developing guidance which will assist influencers, brands and consumers in this regard.”

The Advertising Standards Authority for Ireland is committed, in the public interest, to promoting the highest standards of marketing communications that is advertising, promotional marketing, and direct marketing. The objective is to ensure that all commercial marketing communications are ‘legal, decent, honest and truthful’.

Media are required to abide by the Code and not to publish an advertisement or conduct a promotion which contravenes Code rules. The Code covers commercial marketing communications and sales promotions in all media in Ireland including digital (online banners, websites, and social platforms), print, outdoor, radio, TV, leaflets/brochures, and direct marketing.

 

Further information on advertising self-regulation, the ASAI, and the operation of the system is available at www.asai.ie

GlobalData reveals list of top 20 fintech influencers in Q2 2021 to follow on Twitter

Fintech adoption was already on the rise prior to the COVID-19 pandemic. However, the uncertainty related to the pandemic accelerated shift towards digital financial life and it became an indispensable part of daily life. Against this backdrop, GlobalData, a leading data and analytics company, has ranked the top fintech influencers during the second quarter (Q2) of 2021, based on their performance and engagement on Twitter.

GlobalData’s Fintech Influencer Platform, which tracks top 500 fintech experts and their discussions pertaining to the emerging trends, topics, innovations and companies etc around fintech, revealed Spiros Margaris, Founder of Margaris Ventures, as the top influencer during Q2 2021. Margaris is also a venture capitalist and advisory board member at GENTWO AG. Margaris largely shares updates on fintech, blockchain and AI on Twitter.

 

Andreas Staub, with an influencer score of 68, emerged as the second top influencer in Q2 2021. Staub is the Head of Corporate Development and Digital Transformation at Raiffeisen Group in Switzerland. His areas of interest and posts on Twitter include fintech innovation, behavioral economics, insurtech, bigdata and AI.

Theodora Lau emerged as the next top influencer among the fintech experts with an influencer score of 62. Lau is the Founder of Unconventional Ventures and Book Author at Kogan Page. Her focus is on developing and growing an ecosystem of financial institutions, venture capitalists, startups, corporations, and entrepreneurs.

Smitarani Tripathy, Influencer Analyst at GlobalData, comments: “The newly emerged keywords and hashtags in Q2 2021 included ‘SDGs’, ‘Unicorn’, ‘Serverless’, ‘Govtech’, ‘#Esg”, and ‘#Cbdc’. By following the top fintech influencers, which represent not only fintech experts, but also academia, technologist and economist, one can track the beat of the industry on a regular basis, ultimately leading to a better-informed decision-making in different fields of fintech.”