Research from Red Points has found that while 58% of companies saw a surge in e-Commerce revenue once COVID-19 was declared a national emergency, 39% also saw an uptick in counterfeiting. It’s estimated that by 2022, counterfeiting will be a $4.2 trillion dollar industry, and global damages from counterfeited goods will exceed $323 billion.
While digital channels enable retailers to keep their businesses running, these threats could have a massive impact on customer loyalty, brand reputation and revenue. Is your brand prepared to combat the counterfeiting crisis?
In this episode of Retail Remix, host Alicia Esposito chats with Red Points CEO Laura Urquizu to hear her take on this growing issue, as well as:
- The definition of “brand protection,” and how it has changed in the era of COVID-19;
- Common reasons why brands fall short in their brand protection efforts;
- Whether the ongoing shift to digital will uncover new threats; and
- New forms of theft and counterfeiting that may impact brands in the future.
