Forged products directly affect sectors such as FMCG, auto parts, liquor, etc. as products from these sectors are directly consumed/used by the end-users. Such products may cause health hazards to the consumers.
The counterfeited products flow in the market in the name of a genuine brand, but the results are not genuine. This impacts the image of the brand in the eyes of the consumers. The inability to eliminate duplicate products leads to loss of brand value,
loss of consumers and in turn loss of revenue.
Since the counterfeited products are sold illegally, the money generated through their sale is not received by the government. Instead, it gets used in different criminal activities that affect the economy.
The brand owner, if ignoring counterfeiters, may face legal implications from Law bodies because of its impact on health and trust of consumers on the brand.
Lack of awareness about apt anti-counterfeiting technology makes brands lose a larger chunk of their market share.
