Retailers are preparing for a flood of holiday counterfeits | Glossy
The explosion of e-commerce over the last year has been a godsend for brands and retailers that are struggling with store closures, but it comes with its own set of risks. For one, the combination of e-commerce growth and the holiday shopping rush has led to a significant increase in the amount of counterfeit goods being sold in the U.S.
According to data from brand protection agency Incopro, Black Friday saw a rise in the amount of counterfeits across sectors and platforms. EBay’s watch and jewelry category saw a 155% increase in high-risk listings (identified by Incopro’s fake-spotting algorithm) at select brands. On Amazon, some luxury goods saw a 121% increase in high risk listings and a 51% increase was flagged for some streetwear brands sold on the platform. Black Friday typically sees a growth in counterfeits being sold every year. Last year, there was a 156% increase in cosmetics counterfeits on Amazon from October to November, driven primarily by sellers in the space looking to bank off Black Friday sales.
“E-commerce has exploded this year, particularly around the holidays, and counterfeiters know this,” said Piers Barclay, chief strategy officer at Incopro. “In many ways, the counterfeiters are businesspeople, just like anyone else. So where there’s a lot of growth, that’s where they’ll be. Twenty years ago, counterfeiting was about selling something on the street corner. But the explosion of e-commerce and platforms like eBay has made it a lot easier.”
Read the full article in Glossy
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