Press Release

 

86% of businesses say counterfeits impact online sales of genuine products

Latest MarkMonitor survey underlines the importance of protecting brands online

London, UK: June 14, 2016 – A survey carried out by online brand protection specialists, MarkMonitor®, has revealed the startling impact that online counterfeiting is having on the sales of genuine brands.

More than 200 business executives, including representatives from many global brands, took part in the survey last month to give their views on the issues and challenges of operating online in today’s ever-changing digital world.
More than a third (39%) actually stated that a significant 11-50% of counterfeits substitute for sales of their branded goods. When asked to what extent they thought that online counterfeits substitute for sales of their genuine products online, only 14% of the participants said there was no impact.

Interestingly, despite the potential financial implications of online counterfeiting, far more executives said the damage to brand reputation (55%) was of higher importance than losing sales to counterfeited or pirated goods (33%).

The survey also revealed that the majority of businesses feel it is vital to protect their brand from online counterfeiting across all of the major Internet platforms – from marketplaces and websites to the growing number of social media sites. 59% of participants said it was important to protect their brands from counterfeiting on all e-commerce channels, with the highest response (24%) saying websites is the main area.

Attendees at the symposium were also asked to give their opinions on other key challenges facing brands and trademarks in the online space. 41% felt that future trends such as 3D printing would impact their brand and associated trademarks. The streaming of online content (33%) was cited as the most significant Internet related IP trend facing companies today closely followed by e-commerce (30%).

Simon Whitehouse, Senior Director, EMEA, MarkMonitor said: “The overall results highlight many of the challenges facing brands online and how critical it is to protect a company’s reputation across the entire Internet landscape. Damage to the reputation can have a massive impact on long term customer confidence, which in itself may lead to an even greater loss in sales.”

“This survey underlines the importance that in today’s rapidly expanding digital world, with the growing incidences of brand abuse, it is more important than ever to adopt the most robust and reliable brand protection strategy.”

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ABOUT MARKMONITOR

MarkMonitor, the world leader in enterprise brand protection and a Thomson Reuters Intellectual Property & Science business, uses a SaaS delivery model to provide advanced technology and expertise that protects the revenues and reputations of the world's leading brands. In the digital world, brands face new risks due to the web's anonymity, global reach and shifting consumption patterns for digital content, goods and services. Customers choose MarkMonitor for its unique combination of industry-leading expertise, advanced technology and extensive industry relationships to preserve their marketing investments, revenues and customer trust. Learn more at www.markmonitor.com.

ABOUT THOMSON REUTERS

Thomson Reuters is the world's leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial and risk, legal, tax and accounting, intellectual property and science and media markets, powered by the world's most trusted news organization. For more information, go to www.thomsonreuters.com.

Contact:

Zeno Group
650-801-0931 (office)
markmonitor@zenogroup.com

Ashley Dolezal
Zeno Group for MarkMonitor
650-801-0931 (office)
650-218-2582 (mobile)
ashley.dolezal@zenogroup.com

MarkMonitor® is a registered trademark of MarkMonitor Inc., part of the Intellectual Property & Science business of Thomson Reuters. All other trademarks included herein are the property of their respective owners.

###

ABOUT MARKMONITOR

MarkMonitor, the leading enterprise brand protection solution and a Clarivate Analytics flagship brand, provides advanced technology and expertise that protects the revenues and reputations of the world's leading brands. In the digital world, brands face new risks due to the Web's anonymity, global reach and shifting consumption patterns for digital content, goods and services. Customers choose MarkMonitor for its unique combination of advanced technology, comprehensive protection and extensive industry relationships to address their brand infringement risks and preserve their marketing investments, revenues and customer trust. For more information, visit www.markmonitor.com.

ABOUT CLARIVATE ANALYTICS

Clarivate Analytics accelerates the pace of innovation by providing trusted insights and analytics to customers around the world, enabling them to discover, protect and commercialize new ideas faster. Formerly the Intellectual Property and Science business of Thomson Reuters, we own and operate a collection of leading subscription-based services focused on scientific and academic research, patent analytics and regulatory standards, pharmaceutical and biotech intelligence, trademark protection, domain names, brand protection and intellectual property management. Clarivate Analytics is now an independent company with over 4,000 employees, operating in more than 100 countries and owns well-known brands that include Web of Science, Cortellis, Thomson Innovation, Derwent World Patents Index, CompuMark, MarkMonitor and Techstreet, among others. For more information, visit clarivate.com.

Contact:

Zeno Group
650-801-0931 (office)
markmonitor@zenogroup.com

Ashley Dolezal
Zeno Group for MarkMonitor
650-801-0931 (office)
650-218-2582 (mobile)
ashley.dolezal@zenogroup.com

® 2017 MarkMonitor Inc. All rights reserved. MarkMonitor is a registered trademark of MarkMonitor Inc., a brand of Clarivate Analytics. All other trademarks included herein are the property of their respective owners.

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