Reevoo welcomes the UK Competition and Markets Authority’s findings in its report released today.
Online reviews and endorsements are valued by an estimated 50% of adults in the UK, who use them to influence purchase decisions of all kinds.
The CMA probe has found that dishonest practices when it comes to ratings and reviews are concerning and detrimental to consumers – and unfair to businesses that play fairly in the market.
Not only are they misleading for consumers, but the CMA has warned that some of these practices may breach the Consumer Protection from Unfair Trading Regulations 2008 (CPRs) and the UK Advertising Standards codes.
CMA have offered guidance on how not to infringe upon these laws, and recommends businesses and ratings & reviews providers should seek legal advice to help ensure they are complying with the law at all times. Reevoo echoes this, and notes that businesses using verified, secure ratings and reviews engines such as Reevoo’s often see an uplift in sales far greater than that of open or unverified review systems.