The quantity of counterfeit products has increased dramatically over the world. Consumers, manufacturers, and governments are all affected by counterfeiting. The problem of duplication affects almost every business.
Organisations are doing everything they can to combat the threat of duplication. The additional costs associated with combatting forgeries are an additional hardship. Aside from that, the company dealing with duplication must cope with a terrible brand image, which might take years to build.
Let’s talk about some detrimental effects of counterfeiting on producers:
Declining in Sales revenue and profit margins.: It makes sense that having high sales will lead to the expansion of the business. A company’s product sales decline as a result of the sale of duplicate goods. It can result in the company’s total demise if left uncontrolled. It can be challenging for a corporation to identify the manufacturing location of counterfeit goods due to the product’s many points of sale.
Brand and product image issues : It’s no surprise that the selling of counterfeits tarnishes the image of the brand and its products. The sale of cheap counterfeits creates a misleading perception among buyers about the quality of the product and the brand. Unaware customers frequently believe they are purchasing authentic products, but instead receive counterfeits.
Cost of battling counterfeits: Companies must implement several techniques to combat counterfeiting of their products. This results in additional costs for the organisation, which is already dealing with the issue of duplication.
The global economy suffers billions of dollars in losses as a result of counterfeiting. Manufacturers, on the other hand, can combat the threat of counterfeit items with the use of anti-counterfeiting solutions. Holoseal is providing the best anti-counterfeiting holographic solutions tailored to the demands of the client.
