Within multiple industries, the production and distribution of counterfeit products is just one in a long list of issues to contend with. Naturally, the most lucrative markets tend to be the ones which attract this type of negative attention, and few markets have proven themselves more lucrative than cosmetics. Regarded as part of an elite group of “Recession Proof Industries”, the cosmetics market is growing at a steady rate of approximately 3% per year, with the industry worth around $445 billion in 2016 (Refinery 29, 2017). This same year the industry spiked, growing around 12% (Refinery 29, 2017). Large companies such as Estee Lauder have begun to understand the detrimental impact this is having on their brand’s reputation and have forged departments solely to focus on solving the issue.
“The global security team has been led by the former head of the U.S. Drug Enforcement Administration’s New York office, and it employs 42 full-time agents around the world” (Bloomberg, 2017).
Unfortunately, due to a lack of consumer knowledge and insight, many purchase these counterfeit goods completely unaware of their lack of authenticity. Consumers usually believe they have found cosmetics products on fire sale, and jump at the chance of purchasing the product up to 50% below its recommended retail price. Approximately 83% of Homeland Securities counterfeit cosmetics seizures originated from Hong Kong or Mainland China (Bloomberg, 2017), and with the small quantities that these products come packaged in, it is incredibly easy for these knock-offs to flood developed markets. These fake cosmetics have obvious health risks, including Acne, Eye Infections, Swelling and Chemical Burns, with effects potentially remaining long after use (Bloomberg, 2017).
Help to avoid all the above issues with the UWI Label. The unique technology makes attempts to replicate the label extremely complex, expensive and time-consuming. Furthermore, its automatic activation means you can determine whether a product has been opened and therefore potentially had its contents altered or replaced. Take a stand against counterfeiters, and use the UWI Label!
