Counterfeiting Shows Global Growth
According to Research and Markets, the landscape for brand protection has evolved substantially in the last few years and continues to do so. Since the global economic slowdown in 2008, counterfeiting activity has continued to grow and exploit the economic climate of uncertainty.The luxury goods industry has been particularly hit hard since around 2010. Having seen a significant increase in counterfeit luxury goods globally, brand owners have reported brand name reputation damage and revenue loss. This unfortunate incidence has been because of the large number of counterfeit products in the marketplace.
The International Chamber of Commerce (ICC) tells us that the growth of global counterfeiting across all end user sectors is now accelerating to around 15.6% annually between 2013 and anticipated 2018 (up from 6.8% annually between 2008 between 2013).
Although the counterfeiting problem is experiencing growth, Sproxil, along with other brand protection agencies are working hard to fight this problem daily. With the implementation of serialization solutions, holograms, scratch off labels depending on the country and it's needs, brand protection agencies are developing creative solutions to combat this issue.
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