Counterfeit in Sports Goods
About 60% of Sports Goods sold Online are counterfeit and here is the Solution.
Recent changes in the Indian IT act has diluted the laws protecting consumers from counterfeit products. Online sellers being the biggest source of counterfeit in the industry like the product listed by them is thought to be genuine by the buyers. E-Commerce platform refrains from taking responsibility for the counterfeit products being sold on their site. Although all the platforms claim to have a Zero-Tolerance policy for counterfeit goods, still these spurious sellers continue to sell counterfeit goods online. Some E-commerce platforms have certified sellers that are checked for the background as well. But we have scenarios that have the marketplace selling counterfeit products, so we cannot rely on online purchases.
As a result, 40 to 60% of Sports goods are counterfeit on these platforms. This is a huge statistics for evident counterfeit market splurging on E-commerce platforms. For Instance if we buy a Badminton Racket online and its cost is X then the math behind it is as follow. The buyer that is a part of counterfeiting will buy a counterfeit product from the market for X/2 or X/4 and will mark the product for 2X and will put up the price for 50% discount that encourages the consumer to claim this amazing (false) offer. These illicit sales generate a huge amount of revenue for the buyers, making them pay fewer taxes. This impacts the original products in the market in a harmful way.
The highest percentage among counterfeit items is among Fragrances and cosmetics of about 35% in each. The second highest percentage is for counterfeit products among Sports brands and Goods. These are the percentages that are calculated by surveys conducted by News Channels. The Counterfeit Market amplifies at the time of festivals where E-commerce platforms are completing for highest sales. The Platforms are busy chasing after-sales and consumers are not that concerned about verifying the originality of the product.
The Indian Government has assured the Consumers that they are soon going to roll out amendments in the IT act of the constitution. The Speakers of the companies, however, tell their consumer to look for holograms or QR codes as the counterfeit products might not have them. But sellers who indulge in these practices are way too smart to not think of such scenarios. Technologies like Holograms and QR codes can be decrypted and encrypted again with tools freely available on the internet.
We need a solution that cannot be decoded then encoded again. NOOS technologies with their proprietary technology named SCoT can be used for verifying that these Sports Goods or any other goods being sold on the internet are genuine or not. SCoT can be used in this use-case as SCoT labels cannot be decrypted as the unique ids given to the numbers are generated randomly. SCoT is a complete solution that can ensure tampering with the original packing is not done as well as verifies that the products are genuine.
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