#anticounterfeitpackagingsolutions

The counterfeiting market is growing rapidly. The consequences of these illegal practises are quite severe in terms of revenue-loss, health issues, and irreversible damages to brands. In this scenario, digital anti-counterfeiting solutions have become the ‘go-to solution’ for thwarting economic damages, health risks, online frauds, and a spate of other crimes. Globally, different types of anti-counterfeit packaging, both covert and overt, are preventing the counterfeiting of vulnerable products. Directly and indirectly, they’re saving the lives and economic wellbeing of consumers.

The Current Market and Trends

As per a recently published report, the anti-counterfeiting packaging market is expected to reach a whopping $128.6 billion plus in 2020. Along with the pharmaceutical and food sectors, these anti-counterfeit packaging solutions and brand protection techniques are being adopted by many other sectors.

The anti-counterfeit packaging market, globally, has witnessed wide scale escalation because of a spurt in manufacturing activities. A spurt in demand in the healthcare, pharmaceutical and food & beverage sectors has led to an influx of counterfeit products; these products are the major drivers and influencers of the thriving anti-counterfeit packaging industry.

The counterfeiting market is growing rapidly. The consequences of these illegal practises are quite severe in terms of revenue-loss, health issues, and irreversible damages to brands.

In this scenario, digital anti-counterfeiting solutions have become the ‘go-to solution’ for thwarting economic damages, health risks, online frauds, and a spate of other crimes. Globally, different types of anti-counterfeit packaging, both covert and overt, are preventing the counterfeiting of vulnerable products. Directly and indirectly, they’re saving the lives and economic wellbeing of consumers.

The counterfeiting market is growing rapidly. The consequences of these illegal practises are quite severe in terms of revenue-loss, health issues, and irreversible damages to brands.

We were familiar with and using the benefit of e-commerce businesses even before the pandemic hit us. It was more about saving time in visiting stores physically and getting a better price from brands that probably did not invest in infrastructure. Post Covid19, home services became essential, and so did the movement of digitization. However, e-commerce is as beneficial to consumers as businesses. It expands the scope of more seller options for the consumers and a much wider target market regardless of the location for brand owners. But the lack of investigative agencies and legal compliance involved in online sales has made companies more vulnerable to counterfeiting. As the e-commerce market cannot and should not stop functioning, perhaps it’s time for businesses to invest a small part of their savings from no infrastructural cost in anti-counterfeit measures and packaging.

Loyalty management systems are a proven way to grow and sustain market share. Existing customers can comfortably become prime consumers resulting in a win-win situation for both. For such benefits to be relevant, they should be easy to access, pertinent to industry trends and attractive for conscious consumers. Loyalty management systems and customer reward programs can be online or offline and offer cash-backs, point-based, tiered, paid, value-based, partnership-based, or other benefits.

The counterfeiting market is growing rapidly. The consequences of these illegal practises are quite severe in terms of revenue-loss, health issues, and irreversible damages to brands.

In this scenario, digital anti-counterfeiting solutions have become the ‘go-to solution’ for thwarting economic damages, health risks, online frauds, and a spate of other crimes. Globally, different types of anti-counterfeit packaging, both covert and overt, are preventing the counterfeiting of vulnerable products. Directly and indirectly, they’re saving the lives and economic wellbeing of consumers.