DCA's Responsible Markets Initiative to Scrutinize Growing Impact of Online Markets on Economy and Internet Safety
Friday, August 9, 2024
From Tickets to Accommodations to Drugs to Domains Names to Goods and Services, Consumers Need Online Markets to be Trustworthy and Safe
WASHINGTON, Aug. 1, 2024 /PRNewswire/ -- The Digital Citizens Alliance today launched the Responsible Markets Initiative (RMI) to raise awareness about the need to keep online secondary markets, which 75 percent of Internet users rely upon, trustworthy and safe.
"When Internet users search for tickets to an event, rental accommodations, or goods and services such as retail products or domain names, they are as likely to consider using an online secondary market as they are the original seller," said Tom Galvin, executive director of the Digital Citizens Alliance. "But all too often, these online markets are not subject to the same rules. This initiative intends to spotlight online secondary markets to help consumers make smart decisions and provide information to policymakers grappling with how to ensure online trust and safety."
Americans, by a 6-1 ratio, believe these markets are becoming an increasingly larger portion of the overall economy. That comes from personal experience. Here's how many Americans reported using online secondary markets in the last year, according to a Digital Citizens research survey conducted in June 2024:
Retail Goods 51 %
Event Tickets 35 %
Travel Accommodations 33 %
Pharmaceutical Drugs 16 %
Automobile 14 %
Domain Name 11 %
Yet, the Digital Citizens research survey shows an emerging trust gap for online markets. Seventy-two percent of Americans believe primary sellers are more trustworthy than secondary sellers. When asked whether online secondary markets have led to an increase, decrease, or no change in retail or travel scams, credit card fraud, identity theft, or copycat website schemes, 57 percent of Americans say "yes." Only five percent say "no."
The initial markets the Responsible Markets Initiative will explore include:
-- Event tickets. Online sellers such as StubHub, which boasts that it has
sold tickets to over 10 million events worldwide, play an increasingly
vital role in the distribution of tickets. Fifty percent of Americans
say that after purchasing tickets on the secondary market, either the
seats were of lower quality than advertised, the price was not fair, or
they had trouble entering the venue.
-- Travel accommodations. Online marketplaces such as Airbnb and VRBO have
booked billions of stays worldwide. However, guests have long raised
concerns about their safety, and a recent CNN investigation found that
Airbnb is failing to protect its guests from hidden cameras.
-- Goods and Services. Whether counterfeit luxury goods, pharmaceuticals,
other drugs, or toys made of dangerous materials, online markets have
been especially risky for consumers. The online sale of counterfeit
products has exploded, and many Americans don't realize that third
parties are peddling many products sold on platforms such as Amazon.
-- Domain Names: The secondary domain market poses an issue for consumers
and businesses alike. Consumers may often be tricked into purchasing
event tickets at a premium because an online site appears to be the
venue box office when it's actually a reseller. The emergence of domain
secondary markets has led to a spike in domain name prices, making it
difficult for small business owners to establish an online presence.
Americans are looking for greater scrutiny on online markets. By an 8-1 margin (64 percent to 8 percent), survey respondents said online secondary markets should face more regulations. And 67 percent of Americans said they would be more likely to rely on and use online secondary markets if they were better regulated.
"Given that online secondary markets are likely to become an even bigger part of consumers' lives and more important to the economy, we have to ensure that they operate in a trustworthy fashion. We hope that Digital Citizens' Responsible Markets Initiative will help advance the cause of trust in these markets," said Galvin.
About Digital Citizens Alliance
The Digital Citizens Alliance is a nonprofit, 501(c)(6) organization that is a consumer-oriented coalition focused on educating the public and policymakers on the threats that consumers face on the Internet. Digital Citizens wants to create a dialogue on the importance for Internet stakeholders-- individuals, government, and industry--to make the Web a safer place. Based in Washington, DC, the Digital Citizens Alliance counts among its supporters: private citizens, the health, pharmaceutical, and creative industries, online safety experts, and other communities focused on Internet safety. Visit us at www.digitalcitizensalliance.org.
Media Contact: Adam Benson, adam@vrge.us
View original content:https://www.prnewswire.com/news-releases/dcas-responsible-markets-initiative-to-scrutinize-growing-impact-of-online-markets-on-economy-and-internet-safety-302211878.html
SOURCE Digital Citizens Alliance
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