It’s estimated that around 7-8% of all world trade conducted involves counterfeit goods, which can account for an estimated $1.7 trillion in global sales lost each year.
Whilst this has an obvious impact on brand owners’ profit margins, there’s also a real threat to a brand’s reputation if a customer ends up unwittingly in possession of an inferior product which doesn’t meet the same quality control standards as the real thing.
This also applies to product safety, where customers could find themselves at risk by using fake goods which might not be manufactured to the same safety protocols or with the same material as the legitimate manufacturers do.
For brand owners looking to protect their IP or add a verification step to their production processes then there is a solution in the form of Verimaster anti counterfeit technology additives, which can be incorporated during manufacturing.
Verimaster can help to identify authentic branded products, validate manufacturing processes so you know that the correct specification has been adhered to or check the age of a product if the contents are likely to expire.
Visit the AddMaster (UK) Ltd website for more information on How Verimaster technology can help combat the counterfeiters