Dr Lauren Gurrieri, an esteemed Associate Professor of Marketing, expressed her concerns about the increasing influence that online personalities have on younger audiences. “According to a recent study, nearly half (44%) of Gen Z consumers report making a purchase based on an influencer’s recommendation, compared to 26% of the broader population (Kantar, 2020),” she noted. The trust that these influencers have garnered, especially from younger audiences, may sometimes lead to endorsements that can be potentially harmful.
The Double-Edged Sword of Information
TikTok is a diverse platform that hosts content ranging from healthcare to global affairs. Dr Jay Daniel Thompson, a lecturer in Professional Communication, states, “The platform can be an ideal site of information-provision, however, the fact that just about anyone can post to TikTok can mean that not all information on the platform is equal.” He further emphasizes the need for users to critically analyze content and consult a variety of sources for accuracy.
#FinTok and Financial Misconceptions
Dr Angel Zhong, an Associate Professor specializing in Finance, warns against the rampant spread of misinformation related to personal finance on TikTok. Dubbed as #FinTok and #MoneyTok, some of these trends can mislead individuals into making uninformed financial decisions. “Taking financial advice from TikTok without proper due diligence can lead to uninformed decisions,” she remarked, urging viewers to always validate the credibility of the information providers.
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Understanding the Business Model of Video Platforms
Dr Torgeir Aleti, a Senior Lecturer in Marketing, brings attention to the inherent dangers of short-form video platforms. The addictive nature of these platforms, designed for continuous consumption, can make users more susceptible to misinformation. He states, “Users shouldn’t take what they hear at face value when viewing content on topics that grapple with complex issues,” highlighting the primary function of these platforms as entertainment rather than reliable information sources.
In light of these insights, it’s evident that while platforms like TikTok offer valuable content and entertainment, they also come with their fair share of pitfalls. Users are encouraged to approach such content with a discerning eye and ensure that they seek information from diverse and credible sources.
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