Buyers Beware : Is your deal real?
The holidays are just around the corner and with Black Friday and Christmas sales headed our direction, how sure are we that the deal is real?
‘Tis the season to be wary
Counterfeiters are known to take advantage of the intellectual property (IP) of businesses and brands no matter the place or time. Whether it’s winter, spring, summer or fall – fraudsters are here to stay all season long. And as the brr months continue, so does the rise of low-quality products.
Is the deal real?
In 2019, Black Friday online sales in the United States reached a record-breaking US $7.4 billion, up from US $6.2 billion in 2018. In 2019, there were 21% more transactions on Black Friday in Europe than the next most popular shopping day.
Just days before Christmas last year, North Carolina Secretary of State Agents in the US seized US $800,000 in counterfeit luxury goods. Similarly, in the UK, counterfeit items originating from China were detained by UK Border Force and included:
- more than 1,300 counterfeit luxury scarves worth an estimated £904,775, seized near London
- approximately 850 counterfeit top brands with an estimated value of more than £842,000 seized
- over 5,200 counterfeit electronics estimated to be worth over £778,000 seized
- more than 200 counterfeit skincare sets seized
Mark your calendars… and your products
“Counterfeit goods are a seductive way to an unhappy Christmas. Shoppers have to remember that even at Christmas if it feels too good to be true it usually is…” - James Maycock, Forensic Partner at KPMG
Indeed, as much as we love a good deal, consumer assurance and brand trust are not guaranteed at bargain-basement prices. A range of proven and patented authentication solutions can help safeguard brands and products from the risks and liabilities of the counterfeit industry.
Economies are missing out on billions of dollars each year as a result of the global trade in fake goods, which is why companies and anti-counterfeiting solution-providers need to work together to win the fight against illicit trade and counterfeit goods.