Mr Anil Verma had started a business of manufacturing men’s shoes some years back. The investment was quite heavy- apart from taking loan he had invested all his savings in the venture. For a few months, things seemed fine and to his surprise, there was a record number of sales in the following years. But one ill-fated day he got to know that his shoes were counterfeited across different locations of the country. He himself witnessed that visually identical copies of his products were sold at street shops, flea markets and local shops.
Soon, Mr Verma’s dreams turned into live nightmares. Besides losing profits, there was a considerable decline in consumer trust. The brand name which he had created in the market lost all its credibility. More to it with few human resources he was not able to completely check counterfeiting. Forgers were selling fake copies of his product for few hundred bucks. Mr Verma was depressed and finally, his company was shut down. Things would have been different if Mr Verma would have contacted us. We at Holostik have been fighting duplication since 1991. Our customised anti-duplication products and solutions help in bringing down the menace of duplication to a large extent.
We also know the negative impacts of counterfeiting on manufacturers and businesses and we want you to know about them as well.
The decline in sales: While many people buy counterfeits unknowingly there is a major proportion of buyers who want to flaunt a fancy bag for a little money. This desire has created an enormous demand for fake products in the market which negatively affects the sale of original products.
Extra costs on fighting fake: Yes, Mr Verma had spent a lot of money on fighting fakes but to no avail. Duplication kills you secretly and silently. With the double whammy of added costs and poor sales, your company suffers a major monetary setback.
You lose your loyal customer: There are high chances that your customer will find an alternate if he gets duped with a counterfeit of your product. Imagine such fakes being sold at different locations and the number of customers you lose due to it. Disappointed and unsatisfied customers will always turn towards a new option.
A tarnished brand image: Last but not least counterfeiting negatively impacts the image of your brand. If there is a high volume of fake products of your brand then it will create a negative impression in the minds of retailers, distributors and consumers. They will perceive that the company does not care about its reputation.