Safeguarding Brand Name Manufacturers' reputation,
Post# of 22467
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Posted On: 11/09/2019 8:39:30 PM
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Safeguarding Brand Name Manufacturers' reputation, market share and brand dilution.
The total value of counterfeit products globally is expected to reach $1.8 trillion by 2020 according to the 2018 Global Brand Counterfeiting Report, driven in part by more convincing fake products which are made in exactly the same factories, with exactly the same raw materials as authentic goods. Consumers get duped into buying fake goods and more sales taken away from legitimate businesses that effective brand protection is a must. 76% of UK consumers would be less likely to buy products from a brand if their reputation was associated with counterfeit goods, according to independent research commissioned by Incopro. The importance of brand reputation was highlighted in the report with 44% of consumers said that a brand’s reputation was very important to them while only 3% said a brand’s reputation wasn’t important. Any sort of exposure to counterfeit products seems to adversely affect brand confidence, 66% of consumers that had been ripped off after unintentionally purchasing counterfeit goods have lost trust in buying from that brand again, while 34% of all consumers surveyed were less likely to buy from the brand’s own website if its products had been susceptible to counterfeiting elsewhere online. The sophistication of illegal counterfeiters has reach a point that consumers cannot distinguish counterfeit products from the legitimate ones that is why Salvatore Ferragamo decided to insert microchips in the heels of its shoes, but counterfeiters will one day be able to fake the microchips too! Brand name manufacturers must protect themselves against lost sales, brand dilution, and damage to reputation. Quantum Materials Corp's QDX trademark quantum dot invisible security ink with finger-print like color signature which cannot be copied or faked is the only solution for anti-counterfeiting measure.
The total value of counterfeit products globally is expected to reach $1.8 trillion by 2020 according to the 2018 Global Brand Counterfeiting Report, driven in part by more convincing fake products which are made in exactly the same factories, with exactly the same raw materials as authentic goods. Consumers get duped into buying fake goods and more sales taken away from legitimate businesses that effective brand protection is a must. 76% of UK consumers would be less likely to buy products from a brand if their reputation was associated with counterfeit goods, according to independent research commissioned by Incopro. The importance of brand reputation was highlighted in the report with 44% of consumers said that a brand’s reputation was very important to them while only 3% said a brand’s reputation wasn’t important. Any sort of exposure to counterfeit products seems to adversely affect brand confidence, 66% of consumers that had been ripped off after unintentionally purchasing counterfeit goods have lost trust in buying from that brand again, while 34% of all consumers surveyed were less likely to buy from the brand’s own website if its products had been susceptible to counterfeiting elsewhere online. The sophistication of illegal counterfeiters has reach a point that consumers cannot distinguish counterfeit products from the legitimate ones that is why Salvatore Ferragamo decided to insert microchips in the heels of its shoes, but counterfeiters will one day be able to fake the microchips too! Brand name manufacturers must protect themselves against lost sales, brand dilution, and damage to reputation. Quantum Materials Corp's QDX trademark quantum dot invisible security ink with finger-print like color signature which cannot be copied or faked is the only solution for anti-counterfeiting measure.
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