Technology Will Play an Important Role to Curb Counterfeiting Activities
In the last two decades, counterfeit activities and products have grown. The counterfeiting of clothes and accessories have a significant contribution to the counterfeit market. The act of counterfeiting inflicts heavy damage to the manufacturers operating in the different industries. Around 10 percent of the total world trade in fashion is predicted to be counterfeit.
Based on the figures revealed by the World Customs Organization, Europe is the frontrunner in this market and the total value of the counterfeit fashion products in the region is predicted to be around $ 8 billion. E-commerce has boosted counterfeit activities. Around 25 percent sales of fashion products were through e-commerce. This has instigated the need to implement anti-counterfeit systems in place. A recent report published by Allied Market Research offers insights related to the anti-counterfeit clothing and accessories packaging market such as the market share, size and growth. The current industrial trends and growth opportunities are also highlighted in the report.