As per the study conducted by EUIPO in 2015, 6.5% of sales are lost by the sports goods sector due to counterfeiting. It amounts to a revenue loss of up to €500 per year. Whereas 60% of sports goods sold online in India are fake. Counterfeiting problem in sports goods Apart from financial setbacks, job losses, and tax loss to the governments, fake sports
As per the OECD report in 2007, wheels and tyres are among the most counterfeited products list. EUIPO report states that the tyre industry loses EUR 2.2 billion every year due to the presence of counterfeit tyres in the EU marketplace. In a study conducted on accident conditions, it was found that tyres with the tread depth of 1.6 mm or more minimize the
In 2017, the global market lost approximately $450 billion due to counterfeits in clothing, accessories, and footwear. The figures are snowballing every year. Counterfeiting in well-performing brand’s clothing and accessories is very common. Earlier counterfeiters used to target only the high-end expensive brands, but now the fakes of most of the popular brands are available in the market. Online shopping has made selling the counterfeits much
Counterfeiters never fail to shock us. As per the joint study conducted by ASSOCHAM-RNCOS in 2015, about 60-70% of dietary supplements being sold across India are counterfeit, unregistered, or unapproved. The awareness about the well being and health is increasing amongst the people. A lot of young people are interested in bodybuilding. But the Indian diet is mostly plant-based and is not loaded with
Counterfeiting in wine and spirits is nothing new. Every now and then, there is news of people falling seriously sick after consuming Counterfeit wine & spirits. Lots of people have lost their lives because of the consumption of counterfeit alcohol and spirits. As per the study by FICCI CASCADE, the alcohol industry registered revenue loss of INR 6309 in 2014 due to the fake
Fake cosmetics contain dangerous ingredients and are manufactured in unhygienic conditions. Using such products may have unimaginable side-effects and health risks. The cosmetics industry is called a recession-proof industry and has been growing at a steady rate every year. Counterfeiting in cosmetics, makeup brands, too, has been increasing parallelly at an alarming rate. As per FICCI CASCADE, 30% of FMCG items in India were
Counterfeiting is a bigger problem than we can ever imagine and counterfeiting in the industries that directly affect people’s health, is a crime. Pharmaceuticals Industry is one such industry which is adversely affected by counterfeiting. The Internet is swamped with the news related to counterfeit drug seizures these days. Fake drugs have become a threat to society. A person with minor health issues may
Track and trace solution is becoming a necessity for every company for securing the supply chain as well as for maintaining its smooth functioning. Track and trace solution also helps in recalling the products more accurately if such a need arises. In sectors such as pharmaceuticals, implementation of Track & Trace solution has been made mandatory by the government in many countries. Track and
Agriculture has a big chunk of contribution in the Indian Economy. About 50% of the Indian workforce is dependent on agriculture. Even though farming is the primary source of livelihood, the farmers face many difficulties these days. Counterfeit pesticides is another addon to their hardships. Counterfeiting in pesticides is a huge risk to crops, and the farmers face significant problems because of these counterfeit
Counterfeiting in drugs and medicines has been a massive problem around the globe. Fake drugs put many lives in danger, and several times the patients die due to the consumption of counterfeit medications. To curb the counterfeiting in the Pharmaceutical Industry, the government of India may soon make the Drug Authentication System mandatory for Pharmaceutical companies. The chances are very high that this will
Unfortunately, toys are being counterfeited like never before. According to the OECD-EUIPO study conducted in 2016, the estimated value of global trade in counterfeit toys and games was worth USD 9.72 billion (EUR 7.12 billion) in 2013. This means 11% of trade in games and toys was lost due to counterfeits, making this industry the second-worst affected by global counterfeiting problem. Counterfeiting in Toys
In the latest counterfeit seizure done by Enforcement agencies in the EU, a massive 360 tonnes of illegal or fake pesticides has been seized. The extent of counterfeiting in this industry is shocking and alarming. Fake pesticides and fertilizers, not only hamper a brand’s reputation but also poses a health risk to a large population. The recently seized quantity of counterfeit pesticides is enough
Happy customers always bring more customers with them. They will be further motivated to bring more customers with them if they get rewarded for doing so. It is needless to say that people are inclined to try a new brand if a friend recommends it. This is why running referral programs are one of the best ways to market products organically for any brand. The
Because of the advent of smartphones, most people now have access to the internet at their fingertips. This has opened new exciting ways for marketing in the offline world. Brands can use this as an opportunity to make their presence in the market stronger. NeuroTags proves itself to be the perfect and ready-to-use platform for marketing in the offline world. Offline Marketing And NeuroTags NeuroTags