Saturday , 15 June 2024

Counterfeit Goods: How They Damage Consumers, Businesses & the Wider Economy

Today’s infographic highlights facts and figures around counterfeit goods that are passed off as quality brands, and how this type of activity damages consumers, businesses, and the wider economy.

Fake products pretend to be genuine, including design and packaging, but are inferior in quality ㅡ and unregulated. In 2018, counterfeit goods caused an estimated $323 billion in damages to the global economy. More than 1 in 4 consumers reported unknowingly purchasing non-genuine goods online such as makeup (32%), skincare (25%), supplements (22%) and medication (16%).

Cost of CounterfeitsSource: Best Choice Reviews

Counterfeit goods are bad for consumers and businesses alike 一 know what to look for to avoid harmful fakes

Editor’s Note: The above excerpts* from the original article have been edited ([ ]) and abridged (…) for the sake of clarity and brevity. Also note that this complete paragraph must be included in any re-posting to avoid copyright infringement.

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(*The author’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article. Furthermore, the views, conclusions and any recommendations offered in this article are not to be construed as an endorsement of such by the editor.)

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