New report highlights importance of brand value in online shopping experience.
More than three quarters (76%) of consumers would be less likely to buy products from a brand regularly associated with counterfeit goods.
That was among the findings of a new report from Incopro, which highlights the importance of brand value in the online shopping experience.
Of respondents that had been ripped off by counterfeit goods online, 66% said they had subsequently lost trust in that brand as a result Meanwhile, the fear that an item may be counterfeit stopped 44% of all respondents from buying it online.
The report – entitled Counterfeit products are endemic and it is damaging brand value – was produced by Sapio Research and revealed that any exposure to fake goods, or even a fear that a product may not be genuine, severely affected brand confidence and consumer buying behaviour.
While 35% of respondents said they would be less likely to buy from an online marketplace associated with counterfeit goods of a certain brand, 34% were also less likely to buy the same product directly from the brand’s website and 27% less likely to purchase via social media.
22% of consumers surveyed said the availability of counterfeit goods of a brand would not affect their purchasing decision.
Over 76% also said that a brand’s reputation is either ‘important’ or ‘very important’ when it comes to online purchases. Only 3% said it was not important to them.
“The availability of counterfeit goods online is clearly impacting sales for brands as well as consumer confidence,” said Simon Baggs, ceo and co-founder of Incopro. “Identifying fakes is becoming harder and harder, so consumers and brands need a solution that installs confidence back into the e-commerce experience.
“Companies need to realise that IP and brand protection doesn’t just affect reputation – it is a vital tool in the sales process.”
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