How counterfeiting tarnishes the brand’s image?

There has been a humungous growth of fake brands in different industries. From counterfeit apparels to spurious medicines, fake footwear to duplicate watches the list seems endless. According to Global Brand Counterfeiting Report, “The amount of total counterfeiting globally has reached to 1.2 Trillion USD in 2017 and is bound to reach 1.82 Trillion USD by the year 2020.”

Brands are not just losing millions of dollars every year due to counterfeit products but are also facing many other challenges. Perhaps, one of the biggest challenges faced by organizations due to counterfeiting is the damage to their brand reputation.

Over the past few years, the proliferation of fake goods has bought a major change in consumer buying behavior. According to sources, a large number of consumers are less likely to buy products from a brand if its reputation has been tarnished due to counterfeit goods. Even in the e-commerce space, consumers are less likely to buy products from websites that have earned a bad name due to counterfeiting.

Counterfeit products have a direct impact on the confidence of the consumers buying a brand. A large number of consumers who have purchased fake products unknowingly never buy the same product again and tend to switch over to another brand.

If a consumer is duped into buying a fake product and later discovers that the product is not worthwhile then it leads to a blow on his confidence in the product and the brand. Moreover, such brands are more susceptible to negative word-of-mouth publicity.

So, if a consumer receives a fake product then there are high chances that the genuine brand and manufacturer may earn a bad reputation.

In the online space, customers leave negative reviews for such brands which jeopardize their reputation. This sometimes creates a false narrative that even brands manufacture low-quality goods. Regular news related to counterfeiting of a specific brand can create an assumption in the minds of consumers that the brand is not serious regarding duplication and is not taking stern measures against counterfeiting.

However, companies across the world are now taking serious measures against the problem of counterfeiting. The online retail giant Alibaba which has earned a bad repute for counterfeit products has made a task force to handle counterfeits on its platform. Besides organizations have also implemented different anti-counterfeiting products and solutions to secure their products and brand.

Holostik provides tailor-made anti-counterfeiting products and solutions which help in securing the product and the brand’s image from the problem of counterfeiting. If you are facing the problem of duplication call us now on +91–785-785-7000 or mail us at connect@ec2-54-210-245-44.compute-1.amazonaws.com.

The impact of counterfeiting on the Indian apparel industry

The local clothing industry is the second biggest supporter of the retail business after FMCG. It is valued around Rs 3 lakh crores. The popularity of global brands, changes in inclinations from non-branded to branded, a quickly developing economy and a substantial youthful purchaser base in has made India a profoundly lucrative market. The broad communications and web-based social networking infiltration, the young are getting to fashion conscious. This has opened uncommon doors for the retail showcase.

Market specialists say it is exceptionally hard to evaluate the extent of fake attire. There are numerous manufacturing plants situated at non-descript areas associated with fake items. A large number of them deliver duplicates of multinational brands as edges are high. The movement tricks shoppers as well as the state exchequer. As per insiders, Delhi is the centre of fake items as about 70% fake items start from the national capital.

It’s not a surprise that we usually see cheap grade apparels at different market locations and street shops. As per trade reports, apparels are the second most counterfeited products after footwear across the world. According to Global Brand Counterfeiting Report 2018, “The amount of total counterfeiting globally has reached to 1.2 Trillion USD.”

Apparels are one of most counterfeited products and counterfeiters have copied many famous and costly brands. It is usually difficult to recognise counterfeit apparels at one glance. Some of the best ways through which counterfeit apparels can be determined are its quality of the fabric, stitching, quality of packaging, discrepancies in tags and labels.

Counterfeit apparels can only be stopped with unified efforts of the manufacturers, retailers and consumers at large. Many big brands are using different anti-counterfeiting measures to prevent counterfeiting of their products. This will certainly help them in safeguarding their brand image and prevent further loss.