Why do brands need to invest in anti-counterfeiting solutions?
Every year brands have to suffer massive losses in the form of eroded profits, lost consumer trust, deteriorated brand goodwill, and a lot more just because their counterfeited product is out in the market. Whenever consumers receive a fake product, they lose trust in their favorite brand. Businesses don’t deserve all this! They put in a lot of effort, constant innovation, and expertise to offer something unique to their customers. It is really disappointing when cheap counterfeiters steal their idea and sell the fake version of their products at a much lesser price to gain a share in the market.
The International Chamber of Commerce says that the global cost of counterfeiting and piracy will hit $2.3 trillion by the end of the year 2022. Brands need to protect their intellectual property and make sure only authenticated products reach the consumers. Adoption and implementation of advanced technologies are crucial to realizing this motive. Anti-counterfeiting solutions are a powerful technology that can save businesses from counterfeiting practices.
How do anti-counterfeiting solutions save brands from counterfeiters?
The actions of the counterfeiters are more advanced as compared to previous times. They copy the products of the successful brands in a way that becomes impossible for the consumers to identify which one is real and which is fake.
Brand protection solutions do not just reduce the extent of counterfeiting practices but completely eliminate them. This powerful technology prevents fake products from entering the legitimate supply chain. If a fake product is present on the online channel, the manufacturers will get instant notifications to take the required action.
Many brands have started investing heavily in anti-counterfeiting solutions to fight counterfeiters. It enables them to identify the fake products from the pool of fakes. Interesting! Want to know how? Let’s understand:
- It gives a unique identity to every product by allocating the QR Code or serial number. In short, it transforms existing packaging into a digital identifier.
- The allotted QR Codes are 100% unique that counterfeiters just cannot copy. If they try to tamper with the brand protection labels, it will immediately send notifications to the respective person.
- With the help of these identifiers, the manufacturers can track and trace the products throughout the entire supply chain. If there is any discrepancy in the marketing channels, they can immediately notify the concerned authority to cross-check the process.
- Since every process can be tracked and traced, the brands will get end-to-end and real-time insights into the products.
- It also increases the visibility of supply chains and enables seamless security that minimizes the risk of counterfeiting.
- It ensures the delivery of authentic products to the consumers every time.
The demand for the best anti-counterfeiting solutions is rising every day. It is a powerful technology that is enabling brands to take a stand against outsmart counterfeiters. Choosing the right service provider to implement this technologically advanced solution can make a lot of difference!
LetsVeriFy has been delivering the best anti-countering and brand protection solutions to its clients for years. It knows how to fulfill the expectations of its clients satisfactorily. With its advanced digitized solutions, businesses can successfully apply brand protection labels to their products. Overcoming the counterfeiting practices becomes easier when brands choose the best and well-implemented digital solutions!
