The Internet provides unparalleled global opportunities for brand and trademark owners. The ‘shop window’ is now firmly established as part of most corporate strategies and is indelibly ingrained in consumer buying habits. However, the Internet also provides significant challenges and risks.
Each year, NetNames removes hundreds of thousands of online marketplace listings selling counterfeit goods worth an estimated £1 billion
Cyber-crime and fraud are now at its highest ever level
PwC says that more than half of the UK consumers it surveyed had bought fake products
Marketplace sites, mobile apps, social media and independent websites are all used to sell fake goods. There’s a clear need for brand owners to act against infringements to protect their revenues, customers and reputation.
In July, luxury brands won a significant victory in their battle with the billion-dollar online counterfeit industry. The Court of Appeal in London ruled that Richemont, owner of Cartier and many other prestigious labels, could ask internet service providers to block access to websites selling counterfeit goods.
It’s not been the easiest of times recently for luxury fashion labels as the cost of counterfeiting to their brands continues to grow. In the NetNames report Counting the cost of counterfeiting, published in 2015, we reported that the sale of counterfeit goods online alone increased 15.6% year on year, whilst counterfeiting and piracy are estimated to cost G20 governments and consumers more than $125 billion each year – and have destroyed 2.5 million jobs worldwide.
This report draws data from a wide range of reliable sources to provide an estimate of the shape and size of the piracy universe. It is based upon an in-depth study of a range of ecosystems commonly used for the distribution of infringing content.
The world has changed. Today, the average person spends 169 hours online every month, devoting more time to surfing the web than watching television, and browsing Facebook for longer than they read a daily newspaper.
National Wine Day today (May 25) is the perfect excuse for consumers to enjoy their favorite tipple and try out some new wines; however it is also a chance for producers and retailers to raise awareness of the darker side of the alcohol industry - counterfeit products.