Fast-Moving consumer goods
How to stop counterfeit cosmetics from growing with SmartKood
The Cosmetics Industry’s Biggest Headaches: Counterfeits
"The EUIPO study (2018-2021),referenced in a recent January 2024 press release, found the cosmetics industry particularly vulnerable to counterfeiting, with annual losses reaching €3 billion. Clothing and footwear, and toys also suffered significant losses, at €12 billion and €1 billion respectively."
Industry Impact
Loss of revenue:
Can hinder investment in research and development, marketing and innovation.
Brand damage:
Happens when consumers have negative experiences with counterfeit products.
Potential harm to consumers:
As counterfeit cosmetics often contain harmful ingredients that are not subject to the same safety regulations as genuine products. This can lead to skin problems and even serious health problems.
Ways to Detect
Detecting counterfeit cosmetics can be trick, here are the red flags:
Selling at unusually low price
Low-quality packaging
Check for incomplete or missing information
Slight variation in appearance
Limitations
Price
Counterfeiters now might charge a similar price to the genuine product appear to avoid suspicion.
Packaging
Sophisticated counterfeits are now investing in high-quality packaging that is nearly indistinguishable
Information
Counterfeiters can easily copy product information from the genuine product’s label
Appearance
Variations are normal. Looks can be deceiving. Slight variations exist in genuine products
How can SmartKood help the cosmetics industry:
STOP COUNTERFEIT COSMETICS
Anti-Counterfeit
SmartKood’s Anti-Counterfeit Solution provides unique Digital Identity for your cosmetic products as dynamic QR codes. This allows consumers to verify the products by scanning the QR code with their mobile phone camera.
Product Traceability
With SmartKood’s Product Traceability, you can generate unique codes or use pre-set ones for each product. Every scan provides real-time location tracking and ensure authenticity. Gain valuable insights and eliminate counterfeiting risks.
Yes, conventional ways do help. But, we make it effortless by:
Conventional Ways
Watch out products selling at unusually low price
Examine the packaging thoroughly
Check for incomplete or missing information
Check for slight variation in appearance
Eliminate Guesswork
SmartKood's instant scan technology can immediately verifies product authenticity, saving valuable time and resources.
Empower Consumers
With a simple scan, they can confirm product genuineness and report suspected fakes directly through our communication channel.
Protect Your Brand
Counterfeit cosmetics erode brand trust and damage your reputation. SmartKood safeguards your brand image by ensuring genuine products reach consumers.
Here’s more..
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Survey
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