Anti Counterfeiting in China and Asia Grey Markets
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Whitepaper on insights into anti counterfeiting and brand protection in China and Asia grey markets by:
Guankai (GK) NG
Director – Business Development
NABCORE PTE LTD
Brand Protection & Tracking Specialist in Asia
4 Jan 2024 (Updated)
EXECUTIVE SUMMARY - COUNTERFEITING IN CHINA
Asia is set to become the next economic driving force beyond 2020. China, India, and ASEAN all play significant roles – no companies can ignore them when it comes to manufacturing or selling their products. However, when brand owners venture into Asia, they are affected by the issues of prevalent counterfeits, resulting in large losses.
Counterfeiting in China is often conducted through sophisticated network operations. Brand owners need to be proactive in protecting their business rather than depending on local regulations. A holistic approach of IP registration, integrated brand protection, consumer engagement, and enforcement is needed for companies to tackle counterfeit issues effectively. It is important to register your trademark in China before entering the market to have any chance of shaving your product protected legally.
The most crucial approach is to have anti counterfeit solutions on your products. Chinese consumers are highly concerned about fake products and want to verify them before purchase. Brand protection in China and Asia requires a well-prepared plan. Companies can start their fight against counterfeiting with a combination of product authentication, digital verification, and consumer marketing engagement solutions.
Contrary to popular practice, there is no single technology that is superior to the point that it can be proclaimed as the most effective anti-counterfeiting solution. Instead, interlocking solutions in the form of a combination between physical and digital technology is observed to be the “most effective” solution.
On top of using both physical and digital solutions, company executives can gain visibility along the supply chain with product tracking. Engagement with consumers also enables brands to gather data and insights on trends. The insight gathered on product scans then helps to provide information for enforcement to take action against counterfeiters.
A brand is one of the biggest assets that any company can have, and they should not rely solely on country regulations to protect it. With a smart brand protection solution in place, companies can prevent a loss of rightful revenue and continue growing their business in Asia. Often if no action is taken, the brand owner suffers the most as counterfeiters seek to grow at their expense.
This white paper will detail three solutions on how to protect against revenue loss and brand erosion due to counterfeiting in China and Asia grey markets.