As we mark World Anti-Counterfeiting Day (WACD), take a moment to imagine a counterfeit free world; a system that is free of fraudulent trade activities. This would essentially mean that you, the brand owner and your consumers get value for money spent on products. In your case as a manufacturer, you gain steady increase in sales, revenue, consumers trust and loyalty. On the part of the consumers, they get their money’s worth, sound health and they can freely trust and be loyal to their preferred brands.
Sadly, this is not the reality of economies of the world today. Counterfeiting remains a global threat to nations, posing health risk to consumers and revenue loss for brands. This issue affects both the developing nations and the developed nations of the world; however it is much more predominant in the developing nations. Substandard or fake products have led to multiple fatalities and deaths even, with consumers being unaware of the originality of the products they intend to purchase and unknowingly consuming these products. The global counterfeiting market is said to be valued at $534 billion and keeps growing annualy.
Sproxil, as an organization is on a mission to make counterfeiting unprofitable and also enable genuine brand owners regain their market share as well as safeguard consumers from counterfeiters. At the core of our business are innovation, social impact, sustainable growth and collaborative competencies. We are well aware that the fight against counterfeiting should be a collaborative one hence, our commitment to partner with brand owners, stakeholders and the government to ensure put an end to this global threat.