Evidency’s Post

Q: What’s the most valuable currency you have with your customers? A: Trust. 💥 With the Federal Trade Commission's new ban on fake reviews, brands using deceptive tactics aren’t just facing civil penalties—they’re risking customer relationships, credibility and sales. Our latest blog outlines what CPG brands need to know about the new ruling, its impact on shopper marketing and how Social Nature’s reviews are fully compliant. 👉 Read it here: https://lnkd.in/gskfxFWy At Social Nature, we’ve always believed in the power of honest, authentic reviews 🌟. To date, we’ve generated over 3 million verified reviews for 600+ brands—all FTC-compliant. Social Nature builds trust the right way. And through our partnerships with Yotpo, Bazaarvoice and Trustpilot, our verified reviews can be syndicated across e-commerce channels to provide consistent, reliable social proof that strengthens customer trust and drives sales. #FTC #AuthenticReviews #Reviews #CPG #EmergingBrands #Blog #ConsumerTrust #CPGBrands

A fascinating Federal Court case in Australia at the instigation of the Australian Consumer and Competition Commission. Is it yet another nail in the coffin of the Carbolic Smoke Ball Case or just a normal retailer not realising the consequences of its actions - or inactions ( in relation to the star rating part of the case. There's no obvious excuse for the remainder). And where does it leave businesses that post false positive reviews on third parties' websites? Today in #worldmoneylaunderingreport #fakereviews #falsepositives https://lnkd.in/gp5JjAD3

It's about to get easier to get out of online contacts. The Federal Trade Commission has issued a "click-to-cancel" rule that will require sellers to make it as easy to get out of a contract as it was to get in. "The FTC's rule will end these tricks and traps," FTC Commission Chair Lina M. Kahn said The commission gets nearly 70 consumer complaints per day on average about recurring subscription practices. That's up from 42 per day in 2021. As an indication of what consumers want, there were more than 16,000 comments about the proposed rule after it was issued in March, 2023. #consumerprotection #online #FederalTradeCommission

When does persuasion cross the line into manipulation? 🔉 Unmute to hear Head of Commercial & Digital James Sarjantson describing how Wowcher's tactics encouraged customers to act against their best interests, leading to enforcement action by the Competition and Markets Authority (CMA). With the new Digital Markets, Competition and Consumers Act significantly strengthening the CMA’s enforcement powers, compliance with consumer protection laws is now more crucial than ever, especially for online businesses. Catch the full webinar, delivered as part of this year’s Leeds Digital Festival, to learn more: https://lnkd.in/epUViTEb #DigitalMarketsAct #ConsumerProtection #B2C #Ecommerce #LawFairSquare

PUBLIC NOTICE: Nationwide Price Surveillance Enforcement Exercise The Independent Consumer and Competition Commission (ICCC) is set to carry out the second (2nd) phase of its nationwide price surveillance starting this month (February 2024). This price surveillance enforcement operation is a lead-up to a set of measures (No. 4 Price Controls) issued under the National Pandemic Act 2020 by the Office of the Controller on 30th March 2023. A total of 783 retail and wholesale businesses throughout the country were inspected by the ICCC and prices of certain declared goods listed in Schedule 1 of the No. 4 Price Controls (Price Measure No. 4) were collected during the first (1st) phase of this price surveillance and inspection exercise conducted between August and October of 2023. The prices collected during Phase 1 will be used as ‘base prices’ by the ICCC to monitor any subsequent price increase(s) of the declared goods listed under Schedule 1. The price increase(s) of these listed goods must NOT be above ten (10) percent (10%) or more. Any retail or wholesale shops that wish to increase the prices of the listed goods MUST apply and seek approval from the ICCC. Read more: https://lnkd.in/g-5txEmZ

Given that it's summer this may have been missed, but last week marked the one-year anniversary of the INFORM Consumers Act, a pivotal step in protecting consumers from counterfeit goods and enhancing transparency in online marketplaces. A year after this Act became law, it's clear that while we've made significant progress, there's still much more to be done to safeguard consumers. The INFORM Act has paved the way for greater accountability and consumer trust, but we must continue to push for stronger measures to combat counterfeit products and protect both consumers and legitimate businesses. Check out this insightful press release from the Buy Safe America Coalition to learn more about the progress and the work that still lies ahead. #INFORMAct #ConsumerProtection #BrandProtection #BuySafeAmerica

The distribution of counterfeit consumer healthcare products is part of an ongoing public health concern, and raising awareness, vigilance, and effective policies are the best ways to keep consumers safe. Next week, CHPA will join other industries, policymakers, and stakeholders at the SHOP SAFELY event on Capitol Hill to support the SHOP SAFE Act of 2024, legislation aimed at protecting consumers from unsafe counterfeit goods, incentivizing online marketplaces to adopt best practices for screening sellers, including better vetting of third-party sellers and product origins, and holding platforms legally liable for goods that pose health or safety risks. Learn more about this solution here: https://bit.ly/4gur31S #SHOPSAFELY #FightFakes

The Competition and Consumer Protection Commission (CCPC) has warned traders that they face “stringent legal action” if they do not adhere to fair trading practices during Black Friday which falls on November 29. In a statement released on Monday, CCPC expressed concern that previous Black Friday promotions have been marred with deceptive promotions leading to several complaints from consumers. “The Commission wishes to alert the public that previous Black Friday sales and promotions have been marred by several consumer related concerns,” the Commission’s senior public relations officer Florence Zaza said. “These include disclaimers aimed at avoiding liability, misleading promotional deals, hidden charges, unfair terms, fake discounts, as well as the sale of defective and expired products. CCPC has noted with concern the deceptive practices employed by certain traders to exploit unsuspecting consumers. These traders entice customers with seemingly attractive promotions, creating the illusion of special reduced prices to lure them into purchasing goods or services.” The institution has revealed that 45 complaints were received last year in relation defective goods, misleading information and refund claims.

📢 Exciting news from the Federal Trade Commission (FTC). They've taken a significant step to enhance transparency in online reviews by banning deceptive practices that manipulate consumer opinions, such as fake reviews and bots. This new regulation requires businesses to disclose any connections with reviewers, which is a game-changer for small businesses using social media for marketing. With e-commerce on the rise, misleading reviews can skew perceptions and impact purchasing decisions. The FTC's goal is to create a fairer digital marketplace where genuine feedback thrives, benefiting both consumers and reputable businesses. Under the new guidelines, businesses cannot post false reviews and must disclose any incentivized feedback. This helps foster honest competition and allows small businesses to build credibility more effectively. By focusing on authentic customer feedback, businesses can create loyal communities and enhance trust in their brands. #smallbusinessmarketing #FTCban

Here’s some good news coming out of the Federal Trade Commission this month. The FTC has issued their final ruling banning fake reviews. At LoyaltyLoop, we are always talking about how you should never create fake reviews under any circumstances for ethical reasons. Well, the FTC agrees and has banned creating or buying fake reviews as well as suppressing real ones. Read our blog post about the ruling here: https://lnkd.in/gTAAuVZN