The trade in counterfeit goods has steadily increased in the past few years, even despite the fact that trade volumes have languished, which means that it is now estimated that 3.3% of all global trade is in pirated products.
Counterfeit goods are bad news for businesses and consumers alike because they infringe on copyrights, lose profits and ultimately land the customer with an inferior product, and that’s before we even get into the health and safety implications of pirated goods!
It is strange, then, that so many companies do not bother making any anti-counterfeiting efforts at all, or when they do make an effort, they use inferior forms of protection that it is actually pretty easy for the counterfeiters to copy, as ironic as that might be.
These days, it is a far better idea to use the latest anti-counterfeiting technology such as blockchain, which is far more difficult to hack into or copy in any way.
Anti-counterfeiting technology when is it important?
If you run a business, you might well be wondering whether it is worth investing in anti counterfeit solutions. If you have a product or service that is desirable or copyable in any way, the answer is probably yes, but let’s take a closer look at when it might be important to use anti-counterfeiting technology in more detail below.
You have a high-value product
If you are manufacturing a product that is highly desirable, especially if it has a high price tag, such as perfume or tobacco, for example, your business is always going to be a target for counterfeiters who want to maximise their returns. Although low-value products are often counterfeited, they are much less likely to be targetted simply because it is not always worth the effort for pirates to do so. That’s why you should protect your premium products by using all of the best anti-counterfeit solutions available to your right now.
There could be health and safety implications
If you are selling a product that could impact upon the health and wellbeing of the consumer, then it is really important that you provide them with an easy way of verifying that your product is the real deal.
So, if you’re selling things like vitamins and minerals or medical devices, for example, using the best anti counterfeit solutions is really sensible. If a consumer was to get hold of a fake, they could end up doing themselves serious damage, and if you were not able to prove it was a fake product, you could end up with a lawsuit on your hands and a whole lot of reputational damage to boot.
That being said, any products you are selling, even if they are pretty benign, could end up being reproduced with inferior materials and constructions which would make them potentially dangerous too, which is why whatever you sell, it is probably a good idea to use the Anti-counterfeiting technology that is readily available to you.
Protecting your product, your reputation and your customers is of vital importance, which is why if you think you might need anti counterfeit solutions, you probably do!