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RFID uses electromagnetic fields to automatically identify and track tags attached to objects, offering retailers precise control over inventory and enabling real-time data analytics to enhance operational efficiency. To combat this risk, retailers can encrypt their RFID tags. For customers.
The problem of counterfeit products remains, paradoxically, both enormous and under the radar. One big reason: given how widespread, global and (by necessity) publicity-averse its practitioners are, its difficult to put an exact price tag on the costs of counterfeiting. Does this trend make fighting counterfeits more difficult?
Because a problem in one area of your business can cause security or fraud issues in another, it can be helpful to take an end-to-end look at your security and fraud prevention practices to identify gaps and make improvements. Audit the data you share with suppliers to ensure youre not putting sensitive customer data at risk.
As the market for counterfeit and pirated goods grows, manufacturers and retailers in verticals such as apparel, electronics, cosmetics, and beyond need to make every effort to ensure only legitimate products are on the market. According to the OECD, trade in counterfeitgoods rose to 3.3 What is Product Serialization?
Dupes are typically seen as a more ethical version of counterfeit products as they do not copy trademarked brand names or logos. As we teeter on a recession and consumers look every which way to cut costs while still being inspired, there’s a prevailing desire to be on trend without the big ticket price tags.
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