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The Snob Effect, Economic Challenges, and the Rise of Counterfeit Goods
Luxury brands worldwide are facing a major financial threat due to the Snob Effect. This phenomenon occurs when consumers lose interest in a product as it becomes more widely available. When counterfeit goods flood the market, genuine high-end buyers turn away, leading to a direct drop in sales. For luxury brands, this translates to billions in lost revenue. In countries like Turkey, where economic fluctuations are significant, Millennials and Gen Z are financially constrained while being highl
Sports Goods Counterfeiting: Strategies to Safeguard Customers and the Sector
The popularity of online shopping has grown significantly in recent years as the internet has been more widely used. Negative sides of the scenario, such as sports goods counterfeiting, have also been brought about. Counterfeiting is a problem in the sports industry, particularly for products with strong brand recognition. This can seriously harm the industry in addition to undermining consumer confidence. In the sports product industry, counterfeiting refers to the copying of original products
Fraud in E-Commerce: What Consumers Need to Know and Ways to Protect
Fraud on e-commerce sites where we all shop frequently is increasing. Such fraud cases that may be encountered when shopping online can shake the trust of consumers and cause financial losses. In this article, we will cover important topics such as what is e-commerce fraud, how to detect it and ways to avoid it. What is E-commerce Fraud? E-commerce fraud is fraudulent activities aimed at selling counterfeit products or defrauding consumers in online shopping. This fraud can occur in various wa
Perfume Counterfeiting: The Growing Threat to the Industry
People have used perfume as a significant cosmetic and personal care item throughout history. But today, counterfeiting is a major issue for the perfume industry. This problem is increasing in the world and in Turkey. The latest operation in Istanbul reveals that 50 thousand fake perfumes were seized*. In addition to undermining the authenticity and brand value of real items, counterfeit perfumes can be harmful to consumers' health. I will discuss the causes, impacts, and protective measures tha
What Did We Do Against Counterfeiting with Our Artificial Intelligence-Based Online Brand Protection Solution in 2023?
The number of counterfeit products is rising daily, which is quite detrimental to brands. According to research, counterfeit products cost the clothing industry approximately 12 billion euros a year, or 5.2% of total sales, and are the biggest source of damage. We have made significant efforts to eradicate them in 2023 as Counterfake, an artificial intelligence-based online brand protection solution, and we have been quite successful. Every day, we expand by incorporating new brands into our exi
Protect Your Brand From Counterfeits on Black Friday and Single’s Day
Black Friday, one of the biggest discount events of the year, is a period when brands break sales records. According to research, online sales figures for the year 2022 had reached $9 billion in the United States alone. Black Friday presents a significant opportunity for brands to boost their profits but it also serves as an opportunity for cybercriminals to sell counterfeit products as well. Global cybersecurity company Cheq has estimated that more than a third (35.7%) of Black Friday online sh
The Share of E-commerce in Turkey and Fraud
With the spread of the pandemic worldwide, the existing e-commerce sector gained significant importance in the global retail market. Most businesses with an online presence started utilizing online stores and/or platforms to conduct their e-commerce marketing and sales activities, as well as oversee logistics and delivery processes. According to eMarketer, global retail e-commerce sales will surpass 5 trillion dollars for the first time in 2022, constituting one-fifth of overall retail sales. B
Counterfeiting in Jewellery
Jewellery counterfeiting can be defined as the imitation of precious materials such as valuable metals and gemstones or altering them in a way that diminishes their value. In recent years, the jewellery industry has increasingly fallen victim to counterfeiting. This type of fraud impacts the quality and authenticity of the items as well as the honesty of the manufacturing companies. According to a report by the U.S. Customs and Border Protection, jewellery ranked fourth in the category of seize
Counterfeiting in Cosmetics
With the widespread use of the internet, one of the sectors that quickly adapted to the accelerating process of digitization is the cosmetics industry. Of course, counterfeiters who sell imitations of cosmetic brands also kept pace with this development and moved their products to online platforms. In the cosmetics industry, which has a market size of millions of dollars, counterfeiters cause an annual loss of approximately $75 million, according to research conducted by the US Customs and Borde