The Anti-Counterfeit 3-Step Approach
As consumers have continued to shift their shopping habits from in person to online, COVID-19 has only accelerated this behavior.
Online distribution channels leave brands at an increased risk of consumers purchasing counterfeit products or products from grey markets. Counterfeit products can hurt a consumer’s confidence in a brand’s quality while grey market products can erode margins and signals a loss of control within the targeted firm’s supply chain.
The root causes for counterfeit and grey market products can vary greatly by company. It is critical to assess and develop individual solutions to mitigate these risks. Some common challenges that put companies at risk include lack of supply chain traceability, limited digital maturity, or inability to uniquely serialize products.
Whether you are in fashion or cosmetics, luxury, retail or even healthcare or pharma, IAC Partners can help you overcome counterfeiting and grey markets through our 3-step approach.
- Perform a supply chain health check -> It is critical to identify any leakages or root causes to build a roadmap to recovery
- Strengthen physical authentication -> Designing a robust counterfeiting solution secures your product’s integrity for the future
- Develop an end-to-end digital track & trace system -> Secured traceability ensures any new counterfeit issue can be identified and resolved quickly
It is important to get ahead of these issues to limit your exposure and minimize legal fees required to fight these counterfeit battles. IAC Partners' thorough and sound solution will strengthen consumer confidence and keep you in the driver seat of your brand!
This #MemberInsights article was contributed by IAC Partners, a strategy consulting firm renowned for its technical and operational expertise.
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