How can brands become more transparent and authentic as consumers struggle with cost of living prices?

The Financial Conduct Authority (FCA) has warned Buy Now, Pay Later (BNPL) firms like Klarna and Clearpay about influencers advertising these schemes as they could be misleading consumers. While being an extremely popular service used by 17 million Brits, it has also led to concerns over levels and visibility of debt particularly as budgets are squeezed by the rising cost of living. In fact, new research by Barclays Bank revealed that almost a third of shoppers who use buy now, pay later credit were unable to afford repayments, leaving them owing hundreds of pounds as a result.

The role of social media influencers has expanded particularly among Gen Zs and Millennials, of which 50% say they trust influencers to give good advice according to industry research. Considering the large audience who are exposed to their promotions, it is essential that businesses begin to prioritise the authenticity of those who represent their brand. For this reason, Room Unlocked aim to offer a solution by is providing brands and influencers with a platform where they trade their products and services based on common interests. This is an exchange free of transactional fees, meaning influencers only post the things they are actually interested in using and the subsequent content they post is more genuine.

Steve Hargreaves, Managing Director of Room Unlocked, comments:

“The online space is becoming increasingly monetised with brands paying influencers for content based on a transactional relationship. The nature of social media is now being leveraged by political parties and strategists to push their messaging or to fuel misinformation, further clouding the online space with what is fake and what is authentic. A significant portion of millennials do not trust influencers and Ad culture however; now more than ever people want truth, authenticity and honesty with the opposite becoming increasingly easier to spot.

“Room Unlocked recognises the growing desire for truth and authenticity, providing a platform that connects brands, agencies and organisations with their true advocates; for love, not money. People of influence are connected to the brands they genuinely love and post content telling their audience why – this exchange unlocks real trust and loyalty in brands via authentic stories and experiences.”