Now counterfeiting is a worldwide enterprise worth extra than $750 billion. It is a developing menace that, if not curbed, can lead to irreversible harm to the industry, economy, and customers. The tentacles of counterfeiters have penetrated deep into the provide chain of just about every market, making it imperative for legitimate small business owners to come up with stringent anti-counterfeiting policies and methods. For any legitimate business owner there is a lot at stake, which includes reputation, image, revenue, security, customer loyalty, and consumers’ health and safety. For that reason, any tolerance towards counterfeiters could spell doom for the organization.
Dangers of Counterfeiting
The act of counterfeiting affects all 3 of the principal pillars of the distribution channel, i.e. manufacturers, sellers, and buyers. Let’s see how.
Consumers: All merchandise undergo a rigorous testing and certification approach in order to assure they are protected for use. If the solutions do not conform to specific requirements, then they are not certified. Given that counterfeit merchandise are not tested, they are not certified and therefore consumers buying counterfeit goods, knowingly or unknowingly, are certainly placing themselves and their household in excellent danger. Counterfeit toys, electrical appliances, perfumes, spare parts, and other people have been discovered to lead to lead poisoning, other critical well being difficulties and in some cases even death.
Sellers: Most goods come with a warranty for a distinct period of time so that if the item encounters some challenge throughout the assure period, it will be replaced totally free of charge. Due to the fact counterfeit goods are just imitations of the original brands, they never carry any warranty. Even so, retailers who sell counterfeit merchandise unknowingly realize their folly only when consumers strategy them with warranty claims. Additionally, any injury to the customer can place the retailer on the wrong side of the law.
Makers: It is the manufacturers who suffer the most from the sale of counterfeit items. Imitations of their brands result not only in monetary losses but also a tarnished reputation. Any complications encountered by the seller or the customer with regard to counterfeit items directly affects their brand image and customer loyalty.
Measures for defending the business from counterfeiting:
Counterfeit education – Most folks are unaware of the ill effects of acquiring counterfeit solutions, which applies to sellers as nicely as purchasers. And buy counterfeit money who know fail to determine the fake from the original. Given that the most viable resolution to curb counterfeiting is to bring down the demand for counterfeit goods, companies should really discover implies to educate the public against counterfeit merchandise. They need to present suggestions on the approaches to distinguish the fakes from the originals. Articles and pamphlets are some of the techniques of doing that.
Holograms and serial numbers –
Hologram stickers and labels can provide manufacturers significantly needed protection, authentication, and security against counterfeiters. Holograms are difficult to reproduce and hence it is the greatest weapon against solution counterfeiting.
Serial numbers are alphanumeric numbers which can be utilized for identification. These one of a kind numbers can help sellers recognize the fakes.
Efficient policies and techniques –
Anti-counterfeiting policies and approaches are either ineffective or are not used adequately by government officers. This offers counterfeiters adequate time to get away or lighter punishments if they are caught.
Brand Protection Application –
Today’s buyers depend a lot on the online when it comes to purchasing items. The world wide web is misused by counterfeiters who, by way of ads, lure buyers into purchasing counterfeit solutions. With brand protection application, illegal activities can be simply monitored and strict action could be taken ahead of it can lead to any harm to a manufacturer’s reputation.