Shocking Statistics of Counterfeit Products from Around the World

Counterfeit Products Statistics

Here some statistics on counterfeit products and the worldwide grey market that might shock you.

According to Forbes, in 2018 counterfeiting was the largest criminal enterprise in the world.

Among the leading industries that have been seriously affected by counterfeiting are software, music recordings, motion pictures, luxury goods and fashion clothes, sportswear, perfumes, toys, aircraft components, spare parts and car accessories, and pharmaceuticals as well as other fast-moving consumer goods.

About 5% of goods imported into the European Union in 2013 were fakes, according to the OECD.

The British government, released a study, Social Media and Luxury Goods Counterfeit, stating 1/5 of all items tagged with luxury good brand names on Instagram are fakes, with 20% of the posts featured counterfeit goods from accounts, usually based in China, Russia, Malaysia, Indonesia, and Ukraine.

The Gartner Group estimated that intellectual property loss due to 3D printer counterfeiting could total $100 billion by 2018. Among the technological fields that can be victimized by counterfeits will be auto and aircraft parts, toys, medical devices, drugs and even human organs.

Counterfeit Drugs

Today, its estimated that up to 1 in 3 prescription drugs in the world are counterfeit. This figure is closer to 2/3 in some developing countries.

Counterfeit Luxury Goods

70% of luxury brand owners consider loss of revenue from counterfeit products to be the biggest challenge facing them on the internet today.

Almost 1/3 of paid search adverts for designer handbags lead to fraudulent sellers.

Counterfeit goodss are as profitable for criminals as illegal drugs. It brings returns of up to 900% for criminal organizations.

Counterfeit Products from China

67% of counterfeit goods are estimated to originate from China.

50% of automobile deaths in Saudi Arabia are caused by counterfeit parts.

41% of business managers are extremely or very concerned about keeping their brand and trademarks protected in the evolving web landscape.

1 in 6 online shoppers are duped by counterfeit products.

28 consumers unknowingly buy lower cost counterfeit goods online for every 1 that does so intentionally

40% of consumers believe that the internet of 2020 will be a more dangerous place.

Guankai

Guankai is a solution architect based in Singapore and the business development director of Nabcore Pte Ltd. He specializes in smart brand protection tracking solutions with 10 years of experience navigating the grey market in Asia. His focus is on designing interlocking smart applications for FMCG, industrial and automotive product and brand owners to prevent counterfeiting and enable post-purchase marketing engagement.

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