Online counterfeiting is becoming increasingly problematic for businesses. There are more channels than ever before by which fraudsters can target consumers with fake goods. These channels range from online marketplaces to social media platforms, making it extremely difficult for the genuine brands to protect themselves effectively.
This problem is highlighted in a recent MarkMonitor barometer report, which found that almost one-quarter of all consumers have at some point unknowingly purchased counterfeit goods online. This fact is contributing towards the increase in the value of the global counterfeit market, which by 2022 is expected to reach US$2.3 trillion.
This influx of fraudulent activity means that brands can no longer afford to rest on their laurels when it comes to enforcement and takedowns. Instead of dealing with each issue when it arises, they must proactively monitor for any suspicious, incriminating behaviour across all platforms.
It is always important to remember that, through the eyes of the well-intentioned consumer, the thought of being caught out by counterfeiters will likely never even cross their mind. Therefore, it is in the utmost interest of all genuine brands to ensure that they can remove the most visible instances of brand infringement as quickly as possible, or else face the damaging consequences. By prioritising this — while also ensuring that all remaining visible sites on search engine results, online marketplaces and elsewhere are legitimate — brands can ensure they are protecting both themselves and their consumers.
However, it becomes difficult for brands to adopt a proactive stance if they are receiving irregular reports and updates that quickly become outdated. Receiving reports on a weekly or bi-weekly basis can often mean that by the time the threat has been identified, the damage is done.
The solution to proactively protecting against counterfeiting lies in monitoring and enforcing online activity in real time. By enabling brands to identity issues as soon as they arise and take the appropriate actions to eliminate the threat, they can protect both themselves and their customers from the negative repercussions caused by counterfeit activity.
MarkMonitor is well aware of the advantages that such monitoring can deliver to brands, which is why it has updated its Brand Protection Platform™ with a new Overview Dashboard. This provides instant updates and insights into how a brand is being represented online. Using this dashboard, brands can more easily establish their own list of priorities for dealing with their problems efficiently and effectively.
So, while counterfeiters might continue to evolve and change their tactics, MarkMonitor's updated solution can help brands adopt the proactive protection method that is so vital in today’s digital environment.