The COVID-19 Counterfeiting Surge
With COVID-19 unleashing itself onto the world we have seen a surge in counterfeiting activities in 2020.
In many ways 2020 was a bumper year for the Global Counterfeit Network (GCN), from cigarettes to pharmaceuticals, they have ramped up their operations.
The reasons for this are clear and we are part to blame, given the impact of COVID-19 has had on all of us:
- The world is more brand aware than ever and conversely have less money to spend on what they want
- More online purchasing from the consumers as less capacity to physically go and shop
- Less police investigation and enforcement capacity as they are deployed elsewhere
- Less budget for vendors such as Halliday Finch to fight the GCN from the global brands, due to their own decreased revenues, as their normal sales are being replaced by counterfeit goods being sold cheaper.
The COVID-19 Counterfeiting Surge Leads to Tough Times in Brand Protection
As tough as 2020 was for us all in the brand protection field, I have to thank our Halliday Finch family and our clients for their support throughout this never before seen times.
When most companies closed their expenditure doors as a precaution, our clients kept theirs open, just enough for us to continue the good fight against the counterfeiters.
Planning for 2021
At Halliday Finch, we are optimists by nature, but realists by training and we are facing this year on the basis that it will be ‘more of the same’ – increased counterfeiting, reduced budgets, and increased uncertainty.
To make firm the foundations and to ensure future growth within an ever-competitive sector, we are focusing on improving our levels of service and accountability to our clients.
We are preparing now for ISO certification in 2022, because we believe this will add value to our employees and our clients. They will get better value for money from us and this will further enshrine our firm in the world of brand protection.