No one likes to end up with counterfeit products. Consumers do not just pay for the price of the fake products but also for the negative consequences after consuming them. Fake products must be “a gain” for the counterfeiters, but it’s surely “a pain” for other people who bear its side effects. The brands, distributors, consumers, and the economy are deeply involved in the process. Everyone is severely affected by the supply of fake products. Counterfeits carry a huge risk and don’t offer any warranty about the quality performance of the product.
Fake products are low-quality imitations of original products. Somewhere they are involved in the supply chain process without knowing they are fake. Although, it majorly affects the consumers who are spending and still not getting the authentic product they have paid for. But, other parties also have to pay the price without being directly involved in the counterfeiting process. All of them are interconnected and affect each other’s functioning. If one of them is diluted, the next one will be halted for sure. Counterfeiters don’t worry about others’ interests. They just want to make “gain” with the illegal activities. Let’s connect the dots and see how fake products turn out to be “a pain” for us.
Fake Product: A Real Pain
Counterfeited products are a real threat to consumers, investors, distributors, retailers, the company’s reputation, and all those parties who are involved in the process. These products put everyone at risk of exposure to cheap quality, low performance, and unbuildable trust. Counterfeits carry a huge risk: the danger of fakes is real. Let’s understand its negative effects:
- Being a Consumer, fake products hurts you
No matter what kind of product is offered, we all have unwittingly bought counterfeit goods. Whenever you think that you have found a great deal, think again, it may not be so great. And that’s an issue. It’s a bit disappointing when you spend your precious money and still do not get the authentic product. It also creates an economic problem. Don’t create high hopes from fake products. They will either get damaged or do not function properly due to retarded shelf life. Their comparatively low prices attract you in the beginning and then later tax you with its negative consequences. The presence of fake products has been there for a long. It’s you who need to be aware of the authentic branded products.
- Severely affects Investors, retailers, and supply chain distributors
The global supply chains are maligned with fake products on which they might have no control. As A Result, companies are paying a huge price in the form of negative reduced customer trust and loss in the sale of original products. The vendors from unreliable sources are duping major retailers where they are unable to stop it. In worse cases, some of them know what’s happening but just don’t care.
On the other hand, Investors who have invested a considerable amount in reliable brands are facing a cash crunch due to their lack of performance with low sales of original products. Supplying fake products is a “gain” for all those making a good amount of money from these practices. No surprise why the economy is crashing and the banking system is facing a crisis. Cheap counterfeiters are okay if the economy and other sections weaken! We just can’t let this happen.
- The biggest pain for the Brands
No brand wants its uniqueness to be sold by the cheap counterfeiters who are putting down the efficacy and performance of their products. The fake version of their products not just affects their sales, competitors, customers, but includes much more. The audacity of counterfeiters is increasing continuously as they know it’s difficult to encounter them. It is encouraging them to harm the brand’s reputation in the most destructive way possible. Little did they realize how much time and effort are wasted to deal with the supply of their fake products.
It’s high time to opt for feasible solutions to get the best protection and save the interest of every person who wants to keep things legal. LetsVeriFy offers a range of solutions like Anti Counterfeiting Solutions, Digitized Warranty, Product Traceability Solutions. It ensures no fake product becomes a “gain” for those who want to make illegal money by harming the ethics of other operations.