The counterfeiting of branded products is both unethical and often illegal. In this post, we highlight the countries and industries most affected by counterfeiting. Unfortunately, counterfeiting remains a huge practice. In the United States and around the world.
First, read these related posts:
- Perceived Honesty of Professionals
- Avoid Being Scammed
- The Impact of Company Ethics on Consumer Behavior
- Social Media Ethics: Is This an Oxymoron?
As a shopper, do YOU view buying counterfeits as ethical? Or unethical? Further, do you think about the effects of such purchases on counterfeited brands?
Countries and Industries Most Affected by Counterfeiting
“According to a 2019 OECD report, the total value of counterfeit and pirated products traded across borders in 2016 amounted to $509 billion or 3.3 percent of world trade. That’s up from $461 billion (2.5 percent of trade) in 2013. Despite the fact that worldwide trade volumes of legitimate goods stagnated over the past few years.”
“With a combined share exceeding 75 percent, China and Hong Kong rank first and second for fake goods. Distantly followed by Turkey, Singapore, and Germany. Looking at countries most affected by counterfeits paints a more diverse picture. Between 2014 and 2016, 24 percent of the value of counterfeit products seized by customs worldwide infringed on intellectual property rights of companies based in the United States. With French, Italian, and Swiss companies also heavily affected.”
“According to the OECD, footwear accounted for 22 percent of counterfeit goods seized by customs in 2016. Thus, it became the most pirated product category. And ahead of clothing, leather goods, and electrical equipment. Among the most counterfeited luxury brands: Michael Kors, Gucci, and Louis Vuitton. Heavily affected mass-market brands include Nike, Levi’s, and Adidas. In response, these brands fight back. Paid damages amount to billions of dollars yearly.”