Radiocnetre has hailed a Government announcement that it will introduce new measures to shorten and simplify terms and conditions that could confuse consumers.The proposals outlined by the Chancellor of the Exchequer in the 2017 Spring Budget are expected to feature in an upcoming Green Paper consultation on consumer protection.
Though many of the proposals are likely to focus on written terms and conditions and subscription offers, it will also provide an opportunity to simplify ‘lengthy and garbled verbal warnings ‘at the end of some radio ads.
Radiocentre suggests that these messages are largely incomprehensible to listeners and fail to provide meaningful protection or useful information for consumers. Independent research commissioned by Radiocentre found that for financial advertising only 4% of listeners recall the total amount payable immediately after hearing a radio ad with a consumer credit offer.
Furthermore, 58% of listeners thought terms and conditions were designed to protect the advertiser not the consumer.
The lack of clear messages, says Radiocentre, not only fails to protect consumers but prevents potential advertisers from using radio, costing the radio industry a ‘conservative estimate’ of £120 million a year in lost revenues.
Siobhan Kenny, CEO of Radiocentre, said: “We look forward to working with Government on improving the effectiveness of terms and conditions, so we can provide better consumer protection and well-crafted messages for our listeners.
“We are particularly interested in grasping any opportunities that might exist in a post-Brexit world, given that many of the current practices stem from compliance with European Directives.”