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?
- 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.