Fast Company/ Laura Urquizu/ May 4, 2020
Since the coronavirus crisis intensified, shoppers have had little choice but to turn to e-commerce, even for basic essentials. In a recent study conducted byÂ Red Points, the online brand-protection company that I lead, we foundÂ 60.4% of consumersÂ said they have increased online shopping versus shopping in-store, and 60% of Americans are purchasing more household cleaning products online.
This makes consumers vulnerable to the rising number of counterfeit goods online. The number of counterfeit goods on the internet has grown exponentially since the advent of e-commerce and social media, flying quietly under consumersâ€™ radar. Now, counterfeitersâ€™ â€śattack surfacesâ€ť have expanded beyond e-commerce marketplaces to social media channels such as Facebook, Instagram, and TikTok. Even the most tech-savvy consumers are sometimes tricked by these advertisements, which can often result in lost revenue for retailers and a hit to their image.
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