Fake brands and products have hurt the international companies badly. It has become a big issue for brands that are getting copied on regular basis. These products tend to have similar logos and designs as that of the popular companies. Sometimes the duplicates are made so perfectly that it is difficult to pick the original one. A lot of times the packaging material gets leaked from company’s own supply chain. Luxury products tend to be the most affected by the fake ones as they are very valuable. Have a look at some facts about the counterfeit consumer good that will leave you stunned.
1. Around 20 percent of the total road accidents in India occur due to use of fake automotive components in vehicles.
2. Fake products contribute 10 percent in the entire world trade.
3. The World Health Organization claims that up to 30 percent of medicines made in developing countries are fake.
4. Thailand has a museum that is dedicated to counterfeit goods.
5. Around 2.4 Lakh fake electronic items were seized in 2015 before they got exported out of China.
6. Nike was the most copied brand in the year 2013.
7. Three out of every Four counterfeit products are made in China.
8. Indian government lost Rs 6,000 crore in 2015 because of the fake products in FMCG market.
Despite the efforts made by the popular companies and governments of different countries, counterfeiting is still a very serious problem.