The Pros And Cons Of Counterfeit Products

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It should have been a Gucci bag, but in reality it was a cheap copy from Asia. Every year, thousands of EU citizens buy designer products, which turn out to be counterfeit products. But the headache is not only the individual consumer’s. According to sources, copies of clothes, shoes and accessories cost the European union 26 billion euros, 17,120 jobs and a reduced GDP of 8% each year. In total copies of clothes, shoes and accessories account for ten per cent of total sales in the EU, which cause the honest producers and dealers market shares - with lost revenue and jobs as consequences. It is particularly online shopping, which has opened the floodgates for the cheap counterfeit products that often are produced in countries in Asia, especially China. Many firms have started a specific department, which goal is to track down and stop the producers of the counterfeit products, or are hiring special detective to help them. P&G has been forced to address the many counterfeit goods of their products in China. They spend $3 million each year fighting the…show more content…
The Europeans are good at online shopping, but now a days online shopping becomes more difficult in terms of figuring out whether or not you are buying a fake product or the real deal. For fraudsters, there are plenty of opportunities to create websites that looks like established trustworthy stores, but in fact they are just stealing your money or selling you a counterfeited products. Right now a big problem is fake watches, like Rolex and Omega, which consumers believe are originals. It may also be consumers who have found good deals on shoes from a websites that looks like it is based in Britain or Germany, but discovers that the still received a fake products, because the fraudsters are getting more technical when creating new
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