Counterfeits and replicas have always troubled the world of commerce. The OECD’s 2019 report gives context to the extent of this challenge by revealing that trade in such goods accounts for 3.3% of the global trade. While there is a huge difference between counterfeit and replicas, people tend to use the terms interchangeably, and there appears to be a vague line between the two.
Counterfeiting isn’t a new problem. In fact, the companies selling fake goods have been around for about as long as the real ones. Counterfeiters’ ability to adapt to changing consumer behavior and ever-evolving anti-counterfeiting measures has seen them grow tremendously over the years. The International Chamber of Commerce estimates that the global economic value of counterfeiting and piracy could reach $4.2 trillion by 2022 and put 5.4 million legitimate jobs at risk over that time period.
Alibaba has come a long way in providing techniques to fight counterfeit products, but intellectual property issues still come up with sellers on the site. We’ll go through the steps you need to take to report a counterfeit on Alibaba and get it removed from the ecommerce site.
Since ecommerce began in the 1990s, people have fallen more and more in love with buying things online. The downside is that really anyone could be behind the listing, and the customer could end up receiving a fake that breaks down or poses a health hazard. The Shop Safe Act of 2020 aims to reduce some of that risk.
As digital transformation keeps accelerating in light of COVID-19, consumers are shifting to online and digital solutions instead of relying on traditional shopping methods. Since the start of the pandemic, the U.S. & Canadian online retail orders have increased 146% year-over-year growth as of mid-April. However, bad actors are also adapting fast to the new normal. Recent data shows brands have seen a 41% rise in cybercrime during Covid-19.
As a company whose mission is to make the Internet a safer place for brands and consumers, over the past weeks we have witnessed a concerning increase in the dangers of the Internet, with bad actors taking advantage of the current global health crisis.
People have been making counterfeit goods for hundreds of years, and that’s no different today. Anti-counterfeiting investigations evolve but the problem is still the same: how to stop counterfeit operations quickly and effectively.
Whether it’s blockchain taking over how counterfeiters operate or infiltrating social media and influencing how “reps” are accepted in youth culture, the online fakes landscape has shifted.
Counterfeit products now account for 3.3% of global trade. A percentage that increments with every research that is published. While technology today may help locate IP infringers and take down their counterfeit goods, there’s a factor that is still hard for brands to control: the price that convinces consumers into buying fakes.
On Black Friday, crazy deals and impulsive buyers combine to move a huge number of infringing products. Red Points’ Black Friday research examines the underbelly of this retail holiday.