Socially irresponsible Bond and Bond
Very pleased to see Bond and Bond get told off by the Advertising Standards Authority for running a vile advertisement that stated "NZ has the 3rd highest level of personal debt, help us get to No. 1".
I can see how a retailer like Bond and Bond might be proud of this, as they have effectively lined their own pockets at the expense of their customers.
Well done to the Invercargill Budget Advisory Service. Here is what the free service told the Advertising Standards Authority (ASA):
"As... [an]....organization which constantly sees people with huge debts they have no way of paying and the ripple effects this has in people's lives we find the wording of this advert socially irresponsible and believe it breaches the Advertising Code of Ethics.”
The ASA upheld the complaint:
"The Complaints Board reiterated its longstanding requirement for advertisements containing messages concerning the financial security of consumers to adhere to at least a due sense of social responsibility, as financial well-being was a serious matter and was not to be taken lightly....[T]he majority of the Complaints Board was of the view that the advertisement, urging people to spend and increase their level of personal debt, was directly targeted at the consumer, and did not meet a due sense of social responsibility. Thereby the majority ruled that it was in breach of Basic Principle 4.
The full ASA decision is available here.
Come to think of it, Bond and Bond is a rather ironic name for a company who actively encourages the sale of debt.