Counterfeiting remains a pressing issue to the industry with its consequences being far beyond the reach. Counterfeits not only pose a great risk to brand owners and profits, however it effects the end consumer and economies at large posing a serious challenge to all industries on a global level. It is imperative to develop a multi-disciplined approach and create an all-encompassing strategy in order to fight the global anti-counterfeit battle involving policy makers, corporations, law enforcement bodies and regulators.
To combat the above challenges, The Authentication Solution Providers’ Association (ASPA) and Messe Frankfurt India are organising the 3rd Annual Edition of The Authentication Forum 2019, a Leadership Summit on Anti-Counterfeiting and Brand Protection, scheduled on the November 7 — 8, 2019 at The Lalit, New Delhi.
The Authentication Forum convenes leaders across industry and government to discuss factors which are contributing to the growth of the worldwide anti-counterfeit market. The forum is an ideal platform to learn about the latest anti- counterfeit trends and challenges through a number of keynotes, case studies and panel discussions while getting a chance to also interact and network with our speakers who are key leaders and industry experts.
The dark business of counterfeits has taken over the globe to become a $1.2 Trillion approx industry. Global sales of counterfeits are growing at a furious 15% each year, and are projected to reach $1.82 Trillion in 2020, with e-commerce making up more than a quarter of that, according to the Global Brand Counterfeiting Report by Research and Markets .
The World Customs Organization (WCO) states that 7% of global trade consists of counterfeit products. In 2018, counterfeit goods caused an estimated $323 Billion in damages to the Global Economy and for consumers, as ultimate victims of such unfair competition.
There is no one-size-fits-all approach to anti-counterfeiting. For business owners, the risk is related with health of consumer as well as of brand integrity. The biggest challenge for brands today is trust, hence it is crucial for brand owners, authorities and stakeholders to take the lead. Today companies, as well as enforcement agencies, are becoming increasingly aware of the problems of counterfeiting. Thus elevating a greater demand for anti-counterfeiting solutions in integration with digital technologies to deter the impact of global counterfeiting.