This not only causes monetary loss but also jeopardises the goodwill of the original player.
A third of the online shoppers have fallen prey to counterfeits over the years. It is estimated that about 4-5% of businesses in India lose to fraudsters each year in online shopping. There are a variety of fraudulent activities in the e-tailing business, one such being ‘fake products’ under the pretext of originals. This not only causes monetary loss but also jeopardises the goodwill of the original player.
In its latest study to assess online shopping experiences and the volume of fake or counterfeit products in circulation, Velocity MR, a market research and analytics company, said it was found that 1out of 3 respondents received fakes/counterfeit products while shopping online at some point in time. Brands with higher sales volume have a higher likelihood of fake products passing through their system.
While enjoying the highest shopping base, Amazon has nevertheless tried to maintain discipline and good hygiene according to the respondents. Among the most shopped categories — fashion, mobiles & computers with accessories proved to be the vulnerable categories for counterfeit products, the study said.