Don’t you hate liars and fake people? Nothing is worse than being backstabbed by a fake friend. Have you tried to secure your sensitive photos on social media? Have you been a victim of fake profiles and impersonation? Most of us know how fake people can drain your emotional energy, whether online or offline. But fakes are present everywhere. We must be as wary of fake products as we are of fake people in the digital world. But counterfeit is not a new problem for brands and consumers. You may have read the warning on bottled water bottles: ‘crush after use.’ Also, there are many tips and tricks to identify a fake product.
Many people use rapid tests to test for adulteration. If the milk leaves a trail behind, then it is adulterated. But, many people have accepted counterfeit and adulteration as a part of life. But given the perils of fake products, brands cannot get complacent.
What is counterfeiting? Understanding counterfeit in the era of complex supply chains:
Counterfeiting is the act of selling a fake version of a product, document, or currency.
Even the water bottle sold in trains, buses, and stores could be fake. Fraudsters pick up empty used bottles from the trash. Next, they fill it with tap water and use a fake seal. But fishing used containers and replacing the content with spurious products is only a part of the issue. Products are under the threat of counterfeit markets throughout the supply chain. With the advent of e-commerce giants and global trade, supply chains have become more complex.
- Brands have different layers of suppliers and sub-suppliers. Without track and trace, the supply chain becomes opaque.
- With technology, manufacturers of fake products have started using deceptive products. For a general consumer, it is impossible to identify a fake from a genuine product.
- Supply chain integration is necessary not only to fight fakes. It also ensures seamless product movement. Integrated supply chain with track and trace system aids in creating a consumer experience.
Is counterfeit targeting only the consumers? Are big brands unscathed by fakes?
Counterfeit products pose health hazards and safety concerns for customers. But that doesn’t mean that brands should not be afraid of fakes. Without a doubt, fakes bleed revenues. While brands may cope with revenues going down, losing loyal customers is the greatest threat. Your competitor may gain an easy advantage only because fake products are being sold using your brand name.
Brands find it difficult to grapple with fakes across the internet without automation tools. Experts warn that the internet is a big maze. Without close monitoring, your brand can be used and abused. Here are some points brands need to consider if they are trying to avoid spending money on brand protection:
- In the digital world, avoiding brand protection is like inviting counterfeiters.
- Your customers have many options today. Brand image is a very important competitive advantage.
- Loyal customers are intangible assets. Losing your loyal customers can do irreparable damage to your brand.
Counterfeits and shipments of unlicensed products are on the rise. Now is the time to use innovative and combined technological solutions to check counterfeit.
Brand protection solutions and clear product visibility across the supply chain are vital. What is the expert opinion of anti-counterfeit technology?
Over the years, counterfeiting has been growing. But luckily for brands, so has anti-counterfeit technology. Counterfeiting will have no end. But as brands, you can keep it under check and protect your precious customers.
- Packaging and labeling industry has come a long way. Security labels with novel technology can protect your brand along the supply chain. Brands can today explore many tamper-proof seals that integrate with packaging. Invest in technologies that make packages and products less vulnerable to counterfeiting.
- Automation in detecting fakes across all digital platforms is essential. Track and trace technology helps brands secure the supply chain. Work with integrated solution providers. Such experts address counterfeiting, product tampering, track & trace, theft, and diversion issues.
- Use security labels designs that are simple to understand and easy to use for customers. You can use unique visual effects like on-off, on-invisible, or always on images.
- Impactful loyalty management encourages customers to report fakes. Work with integrated solution providers to make customer engagement and awareness your priority. Anti-counterfeit technology is one way to show your customers that you care.
Contact us to book an appointment with one of our anti-counterfeiting experts.