Trading Standards finds cost-of-living crisis is exposing UK consumers to unprecedented risks
New research published by Trading Standards has found that issues related to “cost-of-living” are at record levels and set to trigger unprecedented demand and pressure on services in the future.
Its data for 2021/22 found that there has been a surge in a range of practices that are harming consumers – including a trebling in the volume of counterfeit goods seized. The findings come as the Chartered Trading Standards Institute (CTSI) found that three quarters of UK adults are feeling more vulnerable due to the cost-of-living crisis and nearly half have seen a rise in scams.
The British Healthcare Trade Association (BHTA) states: “Unfortunately, dishonest and unethical selling tactics – known as ‘aggressive selling’ – that target consumers of healthcare and assistive technology products are nothing new. Used to pressure and trick you into buying products you may not want or need, these unsavoury practices can catch even the best of us out.”
It has put together a list of underhand sales techniques for customers of retailers to look out for, which can be found here. The BHTA states that its members can offer customers reassurance that they are spending money with a reliable and trustworthy company as they have signed up to its Code of Practice.
According to the new Impacts and Outcomes Report 2021/22, from ACTSO (the Association of Chief Trading Standards Officers) over half a billion pounds of consumer detriment (£548 million) was prevented by Trading Standards across England and Wales. A major increase in counterfeit goods with Trading Standards seizing over four million counterfeit products with a market value of £111m – three times more than the previous year.
It revealed concerns that consumers are more at risk of being scammed, with 17,600 scam victims supported and approximately £47M of money saved by Local Authority Trading Standards in 2021/22.
The data for 2021/22 chimes with a new CTSI survey which highlights that across the UK, Local Authority Trading Standards teams have seen an increase in cost-of-living related demands with around one quarter reporting both an increase in consumers who are vulnerable and in scams and rogue traders.
Chief Executive at CTSI, John Herriman said “This latest research not only demonstrates the significant impact that Trading Standards makes to protect consumers and businesses, but it also suggests that our cost-of-living crisis is likely to exacerbate already high levels of detriment UK consumers are facing.
“The current economic situation is inevitably causing consumers and businesses to tighten their belts, but in consequence unscrupulous and rogue traders are exploiting this increased vulnerability. The data clearly shows not only the significant impact Trading Standards is making to address consumer detriment but also that the risks to consumers from scams, counterfeit and illicit goods, and false and misleading prices are on the rise.”
“It is imperative to the national economy that that we build and maintain consumer confidence, and this is very much dependent upon us having confidence in the integrity of businesses. By tackling unscrupulous practices whether that is preventing food fraud or removing counterfeit goods, Trading Standards is an absolutely vital component in underpinning confidence in businesses and from consumers, and ultimately helping the UK steer the choppy waters ahead.”
Steve Ruddy, Chair of ACTSO, said of the latest report: “Our latest Impact and Outcomes data shows the sheer scale of how much Trading Standards teams save consumers and businesses in tackling detriment, preventing harm, and providing advice and support.”
“It is clear that in this cost-of-living crisis, the risks to consumers from the safety of illicit and counterfeit goods, scams, false claims about prices, and energy efficiency are all growing. Trading Standards has a vital role to play in addressing all of these risks; demands are continuing to grow for what are already very stretched services.”
