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- 1 in 4 shoppers has encountered a rise in counterfeit products online since the start of the pandemic<\/strong><\/li>\n<\/ul>\n\n\n\n
COVID-19 disrupted the retail ecosystem and strained eCommerce sites early in the pandemic. With the ensuing lockdown, there was a sudden demand surge for essentials which opened an opportunity for counterfeits to enter the eCommerce space. As a result, 26% of the shoppers said they encountered an increase in counterfeit items since March 2020 while 39% thought they haven\u2019t seen any increase. Another 35% were unsure of the rise in counterfeits or failed to notice any difference.<\/p>\n\n\n\n
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- Nearly 40% of shoppers came across counterfeit essential items online during the pandemic<\/strong><\/li>\n<\/ul>\n\n\n\n
![\"counterfeit](\"https:\/\/www.intelligencenode.com\/blog\/wp-content\/uploads\/2020\/11\/artboard___11-1024x458.png\")
<\/figure>\n\n\n\n38% of shoppers thought they saw a rise in counterfeit essential items like masks, sanitizers, and gloves, during the pandemic. Also, almost 1 out of 4 consumers said they purchased such counterfeit essentials online during this time. These findings show that along with other retail concerns, the disruption caused by the pandemic opened doors to counterfeit essentials, which are now eating into the margins of brands and retailers.<\/p>\n\n\n\n
Majority of the consumers believe eBay sells the most counterfeit products amongst online sellers<\/strong><\/p>\n\n\n\n
According to 80% of respondents (up by 4% since March), eBay sells the most counterfeit products followed by Amazon with 53% of votes. This finding indicates that consumers\u2019 trust in eBay has further dwindled. Infact, 26% of shoppers said they have stopped buying on eBay out of counterfeit concern, which is a sign of consumer distrust and a diminishing reputation. With the growing cases of counterfeits on eCommerce marketplaces, brands like Nike have started to pull out of these marketplaces. To maintain brand image<\/a> and consumer trust, large players like Amazon and eBay need to take the lead and monitor any suspicious activity closely and penalize and ban vendors identified for selling counterfeits. They need to regulate and verify all vendor listings and encourage verified consumer reviews to eliminate counterfeits from their platforms.<\/p>\n\n\n\n
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- Price is the #1 reason why 53% of consumers bought counterfeit products<\/strong><\/li>\n<\/ul>\n\n\n\n
14% of consumers have intentionally purchased counterfeits and more than 50% of the consumers who have bought counterfeits cited price as the main reason. We attribute this finding to the economic instability of the current market – simply put, consumers are opting for counterfeit products to save money.<\/p>\n\n\n\n
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- Nearly 50% of shoppers have spent $20 or more in counterfeit purchases<\/strong><\/li>\n<\/ul>\n\n\n\n
![\"counterfeit](\"https:\/\/www.intelligencenode.com\/blog\/wp-content\/uploads\/2020\/11\/artboard___12-1024x458.png\")
<\/figure>\n\n\n\nIn total, nearly 50% of consumers have purchased $20 or more in counterfeit products. Our September survey indicates that of consumers surveyed, 4% have spent $500+, 15% have spent between $100-$500, and 19% spent between $20-$100 on counterfeit products. These percentages applied across the entire buying ecosystem can equate to hundreds of thousands in lost revenue for authentic brands and retailers. <\/p>\n\n\n\n
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- 1 in every 2 respondents think counterfeits are most prominent with luxury brands, Louis Vuitton & Gucci<\/strong><\/li>\n<\/ul>\n\n\n\n
According to respondents, Louis Vuitton and Gucci are most susceptible to counterfeit goods. This finding reveals that the two luxury brands must do more to win consumers. And, as the reputation of these brands degrades, the larger risk to the luxury brand market is that a segment of consumers may never return to buying authentic brands.<\/p>\n\n\n\n
![\"I](\"https:\/\/no-cache.hubspot.com\/cta\/default\/857779\/fa9194c6-45a8-4cd5-82a7-6d6a7a15ac02.png\")
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- 1 in every 2 respondents think counterfeits are most prominent with luxury brands, Louis Vuitton & Gucci<\/strong><\/li>\n<\/ul>\n\n\n\n
- Nearly 50% of shoppers have spent $20 or more in counterfeit purchases<\/strong><\/li>\n<\/ul>\n\n\n\n
- Price is the #1 reason why 53% of consumers bought counterfeit products<\/strong><\/li>\n<\/ul>\n\n\n\n
- Nearly 40% of shoppers came across counterfeit essential items online during the pandemic<\/strong><\/li>\n<\/ul>\n\n\n\n