Research and Markets has announced the addition of the “Anti-counterfeit and Brand Protection – Luxury Products, Beauty Products and Apparel: Potential synergies in shared marketing and distribution” report to their offering.
The landscape for the brand protection business has been evolving substantially in the last few years and continues to do so. The scale and reach of the counterfeiting problem continues to grow dramatically to a significant extent due to two big drivers that in particular have been causing accelerated growth of counterfeit products finding their way in to global supply chains:
– China – Today the number one counterfeiter nation in the World – both for exports and for consumption within their own domestic market – Indeed up to some 80% of all counterfeit branded products are thought to originate in China according to the International Anti Counterfeiting Coalition (IACC)
– The Internet – Huge growth of the internet as a tool for buying and selling almost anything worldwide, either by direct website / email contact, through social media or via on-line auction houses like eBay. Face to face transactions are not required and the anonymity that can be maintained suits counterfeiters well. Neither may products be inspected prior to delivery.
Notwithstanding the global economic downturn since 2008, fraudsters and criminals continue to exploit the economic climate of uncertainty. Indeed if anything the climate of global financial difficulty has stimulated counterfeiting. Since around 2010, there has been a spectacular increase in counterfeit luxury goods Worldwide. And as a consequence brand owners in the luxury products sector have been suffering. In response the brands have been becoming increasingly pro-active in developing strategies and searching for solutions.
Growth of global counterfeiting across all end user sectors is now accelerating to around 15.6% annually between 2013 and 2018 (up from 6.8% annually between 2008 between 2013) according to the International Chamber of Commerce (ICC).
A whole spectrum of evolutions and changes are taking place across the luxury, beauty & apparel market sectors:
– Strong market growth in a number of market segments
– Strong geographical shifts of demand
– Explosive growth of counterfeiting of luxury products since around 2010
– Strong technological developments in brand protection and product authentication.
To optimise and maximise their businesses, solution providers may wish to:
– To build up a solid an understanding of their customer’s businesses
– To identify additional opportunities so as to tailor their offerings accordingly
– To guide customer facing situations favourably.