Counterfeiting is a major problem faced by companies and brands world over. Revenue and profit loses caused by counterfeiting ranks highest among all reasons. While various methods are available to stem counterfeiting, none have been able to really able to stem counterfeiting…. Read More
Apparel and Lifestyle
- Low Cost: Price of the counterfeit is substantially lower than the price of the original product.
- Wilful Customers: Wilful counterfeit of luxury products is a unique challenge for the industry. In case of luxury cosmetics and apparel brands, customers knowingly buy fake premium products at a non-premium price, to satiate the self-esteem needs. Consumers in India can get away with this, since there are no laws prohibiting them from wilfully buying fake premium brands.
- Utility value vs Social Status: When the sole purpose of buying a product is a social status boost, customers may be ready to compromise on quality, since the product has little utility value.
- Price vs Quality: When the price of the counterfeit product is substantially lower than the original, but the difference in quality is negligible, customers tend to ignore the aesthetics of the original and wilfully buy the fake product. The willingness to buy a counterfeit increase if the customers believe that people in their social circle will not understand that the product is fake.
- E-commerce: When buying online, the customer solely relies on the information provided by the seller, with little opportunity for authentication. If the presentation of the product online is elaborate, it creates a sense of positivity about the product, in the minds of the customers. This increases the willingness of the shopper to buy the product. Bumper sale days on e-commerce sites lead to rampant mass buying. These make it further easy for counterfeit products to reach an unsuspecting consumer.
- No hazards, No harm: Customers believe that counterfeit apparel and lifestyle products do not possess a risk to their health and well-being.
- Lack of intent to report: Customers do not see the manufacturer of the original worthy of being protected from the counterfeit market.
Why counterfeit thrives in Apparels and Lifestyle products
- Protecting Exclusivity: Brands have a personal and unique meaning to customers. Counterfeit products, especially in the luxury, apparel, and lifestyle products category, leads to a loss of sense of exclusivity for genuine buyers.
- Distinct markers: Putting up unique overt and covert markers will help both online and offline buyers in identifying a fake product. It will also make deception difficult for willful counterfeit customers. The counterfeit product will no longer hold the same social status, as everyone will easily know it is a fake.
- Gaining the trust of the genuine buyer: Brands need to assure their genuine buyers that they have checks, track and trace mechanism at every stage in the supply chain so that a customer who pays a premium for the product does not feel that s/he may be cheated.
- Using latest Anti-counterfeit Technology: This provides a direct, authentic, and open line of communication for the customers with their brands. This sense of psychological safety and belonging aids in customer loyalty and engagement.
- Social responsibility: Customers are more likely to report a fake product if they feel that the company is being socially responsible and making efforts to combat the menace of counterfeit products.
Why we need to act NOW?
- Loyalty and Customer Engagement: Engaging with the customer and building brand loyalty is one of the most challenging, yet important tasks for luxury, apparel and lifestyle brands. Acviss multitiered loyalty management program rewards genuine users with a sense of gratification through various methods. Already integrated to support multiple redemption options like Wallets, UPI, Bank Transfers, White Goods, Acviss is a one-stop solution for loyalty management.
- Actionable Customer Insights: Acviss provides actionable customer insights, powered through machine learning algorithm. With a focus on research and advanced statistics, Uniqiolabel can identify potential customers, provide buying trends, and understand the needs of the buyers.
- Customer awareness: Acviss offers customized brand building and consumer awareness programs that attack the counterfeit market while ensuring that the brand image of the product remains intact.
- Acviss App: Available as Acviss App, White Label App, or SDK on both Android and IOS platforms. It is also available on web.
- Easy Track and Trace: Acviss’s Track & Trace not only helps you trace your products but also provides protection against fakes while the product transits through the supply chain.
- Authenticity Verification: Acviss’s authenticity verification technology ensures that end-users get instant and easy access to product related information, through smartphone apps or web-links
- Blockchain and Traceability: Acviss’s hyper ledger customizable blockchain and track and trace technology ensure companies should have greater visibility of the product on a real time basis throughout the supply chain.
- Collaborative and customized solutions: Acviss collaborates with government agencies, manufacturers, retailers, and key stakeholders in throughout the product lifecycle to gain industry insights and curate cost-effective customized solutions.
- Integrates into Packaging: With a multi-hierarchy solution, Acviss integrates into primary and tertiary packaging.
- Labels and Markings: With overt and covert markings, easy authenticity verification, end users can distinguish between copy-cat products easily.
- Loyalty Management: Acviss multitiered loyalty management program rewards genuine users and is already integrated to support multiple redemption options like Wallets, UPI, Bank Transfers, White Goods, Acviss is a one stop solution for loyalty management.
- Acviss App: Available as Acviss App, White Label App, or SDK on both Android and IOS platforms. It is also available on the web.