Economy category powered by

Commission and consumer authorities look into business practices of influencers

Influencer marketing has become a pillar of the digital economy, expected to reach a global value of €19.98 billion in 2023.

In the coming weeks, the European Commission and national authorities of the Consumer Protection Cooperation Network will screen online posts to identify testimonials and endorsements that mislead consumers, the Commission has announced.

Influencers involved in regular commercial activity, such as brand deals to advertise products or services, are considered as traders under EU consumer law. They are required to disclose advertisements in a transparent manner. The result of this social media sweep will feed into the Digital Fairness fitness check that helps assess whether new legislation is necessary to make digital markets as safe as offline markets.

In addition, the European Commission launched an Influencer Legal Hub. On this platform, influencers and content creators can find information on EU legislation in the area of fair commercial practices, which will help them to play by the rules, the Commission's announceemnt notes.

Commissioner for Justice, Didier Reynders, said: “The business of influencers is thriving and a lot of consumers - often young people or even children - trust their recommendations. This business model, however, also comes with legal obligations. Influencers too must follow fair commercial practices and their followers are entitled to transparent and reliable information. Our Influencer Legal Hub will be a big help for all actors in the industry to understand the rules. I call on influencers to play by them.”

The Influencer Legal Hub provides animated video trainings and a library of resources developed in collaboration with academic experts. Influencers can learn about their legal obligations, in particular when, where and how they should disclose their advertising activities on social media, what they are expected to do in relation to professional due diligence and what rights consumers have when they buy products or services directly from them, the Commission's announcement concludes.

Read More

EIB “ready to support Cyprus’ shift from oil-based energy to a more sustainable system”
CypERC revises 2025 growth rate by -0.5%
State budget implementation at 19% for revenue, 15% for expenditure in Q1 2025
Cabinet approves tax incentive bill in tangible step towards ‘brain gain’
Cyprus signs Double Tax Treaty with Curaçao
President Christodoulides announces incentives for Cypriots working abroad to return
Markets rebound as Trump signals cutting China tariffs 'substantially'
Fiscal surplus €1.4b in 2024, at 4.3% of GDP
Cyprus GDP at €33,567m in 2024, growth rate at 3.4% in real terms
Growth forecast to be revised slightly downwards, Keravnos says