Competition watchdog the ACCC is turning its attention to how companies use social media

The impact of scams and the risk of being exposed to misleading or deceptive content from businesses via social media is also on the hit list.

In March this year, the ACCC joined Andrew Forrest in suing Facebook over celebrity scam ads.

Australians lost more than $144 million to scams on social media in last year, almost double the 2020 figure.

ACCC Chair Gina Cass-Gottlieb said social media has become an essential tool for many businesses.

“We want to hear from businesses and consumers about their experiences with social media services, including with Facebook, Instagram, Twitter, TikTok and Snapchat. We hope to examine trends in user preferences and engagement over time, and consider how users choose social media services,” she said.

“We are also eager to receive feedback on the barriers to entry and expansion for social media services in Australia, and if new entrants such as TikTok have changed the competitive landscape for social media services in Australia.

The ACCC is also seeking views on the use and abuse of social media services for scams and misleading or deceptive content.

Submissions can be made to digitalmonitoring@accc.gov.au by  September 9.