More than a quarter of American consumers are interested in this product.In the last year, at least one counterfeit product was purchased accidentally. 52 percent of U.S. customers have lost faith in brands after purchasing fake products online. 32% of American consumers think online marketplaces should do more to prevent counterfeit goods being purchased. But what can retailers do?
Fake Goods are Endangered
Since long, counterfeit goods have been a problem for retailers. Online marketplaces like Etsy, Amazon, eBay and eBay are actively fighting the sale of fake products. It’s not only a problem that affects mass retailers; it can also pose a problem to independent shops who purchase from wholesalers that are selling counterfeit goods.
“It’s super important that retailers protect themselves against fraud,” stated Daniel Shapiro (Director of Global Strategic Partnerships).Red points. “Today, there are many different reports by the International Chamber of Commerce about how piracy affects approximately 1.9 trillion businesses. It is predicted to rise to 4.2 trillion in 2021.”
Your Brand Can Be Damaged by Counterfeits
Counterfeit goods can have a negative impact on multiple retail business segments and ultimately, the legitimacy of retailers’ sales growth. Even if customers don’t know that they are buying counterfeit goods, once they find out and share the information via social media channels, it can be difficult for smaller retailers to recover.
A retailer’s reputation for customer service can be affected by counterfeits. If a customer purchases an item that they believe is genuine, but it breaks or tears, they can send it back to the retailer to receive a replacement. The real company will not be obligated to provide a warranty on the product or a quality guarantee.
“I have seen these customers leave negative comments on social media. They don’t believe in the brand and they’ve been there before. Shapiro stated that negative reviews about customer service and warehousing can lead to poor brand reputations, which ultimately affects sales and operations.
A 2019 Incopro/Sapio Research poll found that 52 percent of respondents believe unknowingly purchasing counterfeits can lead to a loss in trust with the brand. If a customer loses trust in your brand, it is likely that they will not shop with you again.
How can retailers protect themselves against counterfeits?
The U.S. Department of Commerce, and U.S. Chamber of CommerceThese are the steps to followThere are steps you can take that will protect your business from being hacked.
- Examine labels, packaging, contents.Although there is no way to tell the difference between a genuine bargain and a scam, labels and packaging can provide clues. You should look out for expired or missing “use by” dates as well as broken or missing safety seals and missing warranty information. Look for reputable sellers to purchase larger items, such as electronic or mechanical equipment.
- When buying from abroad, be carefulMany international businesses sell unique products that are not available or difficult to find in the United States. However, counterfeit and pirated goods are more common in certain countries than they are in the United States. Look for trustworthy vendors who use security and privacy safeguards to protect your personal information and legitimate addresses when shopping online.
- Samples firstWholesalers often allow you to request samples before placing a bulk order. Even though you will have to pay a small amount for samples, it is still cheaper than buying a lot of product only to find out that the product was fake. Before you buy from a new distributor, always ask for samples.
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