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Protecting Luxury Brands against Counterfeit Threat using Blockchain Technologies
The gray and counterfeit market is a growing danger for all brands in the ecosystem, including corporations, customers, and governments. For corporations, the danger is in lost sales, brand value, and market share. Many corporations have put in place dedicated brand protection teams to fight back against counterfeiters. For customers, the issue is purchasing fake products which cannot be verified in real time and then feeling cheated, distressed by money wasted.
Why are counterfeit goods sold?
- Globalization and lower trade barriers
- Consumer complicity
- Expansion of channels and markets
- Global banking
- Weak enforcement
- High tariffs and taxes
- Free trade zones
- Increase in online sales
- Low- cost technology that results
- in low investment and high profits
Learn How to protect your Luxury Brands
