Nearly half of brands admit that sales are lost to counterfeiting

Nearly half of brands admit that sales are lost to counterfeiting
by Clarivate Analytics
News
News

San Francisco, CA: 10 April, 2018 – New research from MarkMonitor, the world leader in enterprise brand protection, has revealed that almost half (47%) of brands lose sales revenue to counterfeit or pirated goods, with one in three reporting a loss of more than 10%.

The research also found that 58% of respondents agree that keeping a brand safe will become increasingly difficult over the next five years, with challenges coming from the areas of artificial intelligence, the dark web, and augmented reality.

In addition, 41% of brands indicate they are already experiencing an increase in brand infringement, while 38% believe they are more likely to be affected by lost sales due to counterfeit goods in the next five years.

“The issue of brand protection has always been a challenge for businesses and it’s an area that is growing significantly based on the increasing threats of counterfeiting, piracy, cybersquatting, and other brand abuse,” says Chrissie Jamieson, VP Marketing, MarkMonitor. “According to the research, brand protection will continue to grow in complexity and as a result it’s vital that organizations adapt their approaches accordingly.

“Brand protection involves a lot more than taking care of the brand itself,” explains Jamieson. “Critically, it’s about maintaining customer trust and protecting consumers from the dangers posed by counterfeiters and online criminals. Our research reflected this notion, showing that the overriding objective of brand protection strategies is to ensure that their customers are safe.”

The study was conducted, in November 2017, on behalf of MarkMonitor by independent market-research firm Vitreous World. This goal of the study was to examine the attitudes and perceptions of marketing decision-makers about online brand protection, as well as their challenges and the state of the industry. Respondents from the UK, US, Denmark, France, Germany, Italy, the Netherlands, Spain and Sweden were included in the study.

To read the full report, please visit: https://www.markmonitor.com/b2b-barometer-2018

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© 2018 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.

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 markmonitor.com.

About Clarivate Analytics

Clarivate™ Analytics is the global leader in providing trusted insights and analytics to accelerate the pace of innovation. Building on a heritage going back more than a century and a half, we have built some of the most trusted brands across the innovation lifecycle, including the Web of Science™, Cortellis™, Derwent™, CompuMark™, MarkMonitor® and Techstreet™. Today, Clarivate Analytics is a new and independent company on a bold entrepreneurial mission, to help our clients radically reduce the time from new ideas to life-changing innovations. For more information, please visit clarivate.com and follow us on Twitter @Clarivate.

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