Africa remains the continent most affected by counterfeits and with Nigeria being it’s most populous country, it’s little wonder the nation is facing an “epidemic” of fake products. From well-known places of commerce like the Yaba and Lagos Island markets in Lagos to the famous Aba market in Abia state and even on e-commerce platforms, […]
Why Do People Buy Counterfeit Goods?
Nowadays, it seems everywhere you turn, you are likely to find knock offs and counterfeit goods. People are increasingly buying and using them to the extent of even “showcasing” them. Why is this so? If there wasn’t a high demand for counterfeit products, would there be a growing supply? Absolutely not! So why then would […]
Practical Strategies For Earning Consumer Loyalty
Put simply, loyalty refers to consumers patronizing your brand repeatedly over extended periods. It is the definitive term for a scenario whereby a consumer picks your product over that of every competitor. For example, if someone goes to buy a tin of milk from a supermarket, doesn’t find the brand he/she wants to buy but […]
How to Boost Sales with Consumer Rewards and Loyalty Programs
A loyalty or reward program is simply a marketing strategy that rewards consumers for frequently engaging with a brand/product (mostly by means of purchase). The logic behind an effective loyalty program is that the more consumers purchase your products, the more they get rewarded and as a result, you generate more sales and revenue. Asides, from the […]
Covid19 & Counterfeits: How Can Brands Protect Themselves?
As the global Covid19 pandemic continues to advance, most enterprises have experienced a shift in their business operations. Organizations are fast embracing telecommuting and have also encouraged their staff to work remotely from home in order to curtail the spread of the virus. There has also been changes in our individual daily activities because this pandemic caught the […]
6 Most Dangerous Counterfeit Products
A counterfeit product could mean FAKE or Sub-standard, FAKE is a completely different product packaged like the original and Sub-standard, being a copy of the original but of lesser quality. As the problem of counterfeiting is yet to be completely brought under control, there are products that should be given special priority in the anti-counterfeiting fight. […]
4 Benefits of Counterfeiting, No 3 is Very Key
I guess you’re thinking we’ve lost our minds to even suggest that counterfeiting is remotely beneficial right? bear with us, it’ll become clearer soon. It’s a known fact that counterfeit products cost as much as $300 billion worth of damage to the global economy and we can’t seem to get it under control aided by […]
Surviving Counterfeiting In The Fourth Industrial Revolution
The fourth industrial revolution is a new chapter in human development which is characterized by a series of new technologies that bring together the social, political, cultural, and economic world that will bring about change in the way we live and interact with the world around us. The emergence of digital systems, networked communications, machine […]
How Efficient Supply Chains Can Limit Counterfeits
Counterfeiting is one of the largest and trending problems faced by manufacturers globally. The rapid growth of counterfeits is alarming for business owners because so much resources are being dedicated into research, product development and quality assurance for consumers. Counterfeiting disrupts product quality, reputation, sales, profits (which results from unfair competition) and reduces customer’s loyalty. […]