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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
The Impact of Counterfeit Products on the Global Economy
In recent times, with the increasing trend of online shopping, fraudsters are attempting to profit from this market by selling counterfeit products. However, these activities not only pose a threat to human health but also lead to significant economic losses. According to data from the American Chamber of Commerce, counterfeit products annually cause more than 500 billion dollars in damage to the global economy. To mitigate this striking economic loss, brands and countries have begun taking det
Counterfeiting in Stationery Products: Important Steps for a Healthy School Year
As the start of the new school year approaches, students and parents have begun shopping on various online platforms to purchase the necessary supplies. However, in recent years, the increase in counterfeit stationery products has become a serious threat in the market. Parents have the following questions on their minds. ❔"How can we detect counterfeit stationery products? How reliable are the stationery products we purchase? What are the potential health risks of counterfeit products?" Accord
Why Should Brands Fight Against Counterfeiting?
Brands targeted by counterfeiters face not only a loss of revenue but also a loss of reputation. Fake products can result in negative experiences for consumers. Research indicates that after a bad experience, 72% of customers might shift to a different brand.