In today’s fast-paced consumer world, counterfeit products have become a rampant issue across nearly every industry, from fashion to electronics to pharmaceuticals. The rise in counterfeit goods is not only causing a financial headache for brands but also jeopardizing consumer safety. Globally, the counterfeiting industry is worth a staggering $3 trillion. Fake goods are infiltrating the market and being sold to unwitting buyers, undermining the integrity of businesses and endangering lives with low-quality, hazardous products.
So, what’s the solution? Technology is stepping up in a big way, with advancements in AI, blockchain, and secure labelling providing brands and consumers with new ways to verify authenticity. Among the leaders in this field is Acviss was founded in December 2016 with a vision to uproot counterfeiting and product tampering. Acviss provides multi-layered, technology-driven solutions designed to make counterfeiting a thing of the past, ensuring consumers are protected with real-time, secure verification processes.
The Counterfeiting Crisis: A Consumer’s Nightmare
Consider this: you purchase a brand-new smartphone online, confident that you’ve made the right decision. But after a few months, the phone starts malfunctioning. Eventually, you find out that it’s a counterfeit product, despite all the efforts you put into researching the seller. This is a common scenario, not just with electronics but across various consumer goods, including beauty products, clothing, and even medicines.
Consumers are often unaware that the products they are buying are not genuine. This is where Acviss comes in with a solution that offers both brands and buyers peace of mind. Acviss helps brands provide a digital unique identity to every product manufactured. This identity, powered by non-replicable technology, is available either directly on the packaging or in the form of a tamper-evident label, ensuring that the product is genuine and untampered. By simply scanning the label, consumers can instantly verify a product’s authenticity, making it easy for anyone to avoid fake products.
Why Is This Important?
According to statistics, counterfeit goods account for roughly 2.5% of world trade, and this number continues to grow as counterfeiters find more sophisticated methods of copying products. Brands are facing substantial losses due to counterfeiting, with profits often siphoned away by fraudulent sales. But the real problem goes beyond financial loss—counterfeit goods are undermining the trust consumers place in brands, especially when health risks are involved.
Fake pharmaceuticals, for instance, have caused numerous health issues and, in extreme cases, fatalities. Consumers need to be able to trust that the products they purchase are not only genuine but also safe. Acviss’s non-clonable QR codes, backed by patent-protected multi-level technology, provide an accessible way for consumers to verify their purchases with just a scan of their phone.
How Acviss is Leading the Charge
What makes Acviss stand out is its ability to tackle counterfeiting on multiple levels of the supply chain. Through its blockchain-powered track and trace solutions, Acviss helps brands monitor their products from the raw material stage all the way to supermarket shelves. This allows companies to track products in real-time, identifying vulnerabilities in the supply chain and ensuring that counterfeits never infiltrate the market. Whether it’s clothing, electronics, or beauty products, brands can have full visibility of where their items are at every stage.
Another key offering is Acviss’s online brand protection solution. As e-commerce continues to grow, counterfeiters are finding ways to impersonate brands online. Acviss’s solution scans the digital space for counterfeit listings and flags suspicious activities. This enables companies to proactively address counterfeiting on online platforms, where much of today’s fake goods are sold.
Securing the Future with Technology
Looking ahead, Acviss is committed to expanding its reach globally. Already, the company has protected over 2 billion products and grown by 90% year-over-year. With clients like Coffee Board of India, Kitply, and K-ONN, Acviss has proven its effectiveness in securing brand integrity across multiple industries. The company’s future plans include a global expansion into markets like Europe and North America, where the need for anti-counterfeiting technology is increasingly critical.
Consumers, too, play a role in this evolving battle against counterfeiting. By staying informed and choosing products from brands that prioritize authenticity through cutting-edge technology, individuals can protect themselves from falling victim to counterfeit goods.