Imitation, not the best form of flattery
Other than costing billions in lost revenue and affecting employment figures, counterfeit products actually damage both the manufacturer and the consumer in equal measure: Certilogo studies have shown that discount prices are no longer a reliable benchmark for identifying a fake product. Further fuel is thrown onto the luxury market fire then when we see that owing to investment in advanced technology, counterfeit product quality has increased. When ‘Too good to be true’ changes to, ‘Excellent but false’, quality copies are offset by counterfeiters in the latest fool-proof way of ensuring sales: by increasing their prices to almost match those of the original product.
Just as the demand for a popular brand or product increases, the counterfeit market keeps pace. Fraudulent sites selling counterfeits pop up as ads more frequently on social media than the originals, and very often consumers are scammed.