Counterfeits Cost Global Economy $323 Billion In 2018

More than one in four consumers have unknowingly purchased non-genuine goods online, in many cases through seemingly legitimate channels: online marketplaces (39%), search engines (34%), mobile apps (22%) and advertisements (20%). All told, counterfeiting sucked $323 billion in value from the world economy in 2018, and in some cases, counterfeit products have caused consumer injuries or deaths.

The most commonly counterfeited product categories are:

  • Makeup (32%)
  • Skincare (25%);
  • Supplements (22%); and
  • Medication (16%).

Victims of fake or unsafe products can report the problem to the National Intellectual Property Rights Coordination Center at IPRCenter.gov. Learn more about what both brands and consumers can do to protect themselves from fake products in this infographic from Best Choice Reviews.

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Source: NowSourcing.

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