Smart label creator not seeing printer
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“Cosmetics and online automotive replacements both average above a 30% chance of purchasing a counterfeit product. “Unfortunately, this comes with a dark side,” says Ducharme. Other data shows that in 2022 e-commerce will hit $5.54 trillion globally, with an average increase of 12% until 2025. Ron Ducharme, vice president of business development, Covectra, states e-commerce grew from $400 billion in 2010 to over $2.2 trillion in 2020. Protection measures tend to be used on highly regulated products, ones with a high cost.”Į-commerce will continue to play a pivotal role in this sector. “A label can contain covert and overt printing techniques for authentication or physical attributes like tamper evidence and destructibility. “There are many ways to use a label or sleeve for brand protection,” says Gurland. Lux has also engineered a staining tamper-evident feature for closure labels.Īccording to Leslie Gurland, Lux’s executive vice president of global sales and marketing, the label must be functional, reliable, easy to use, cost effective and not easily circumvented. The partnership incorporated Systech’s digital fingerprinting.
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Lux Global Label, a label converter based in Lafayette Hill, PA, USA, recently partnered with Systech and its parent company, Markem-Imaje, to deliver increased brand protection for its customers. In 2020, Interpol reported that 30% of pharmaceuticals sold worldwide were counterfeit, and more than one million people die every year after taking counterfeit pharmaceuticals. Brands cannot always rely on their distributors or retailers to protect their brand and consumers, but they can integrate security solutions into their packaging.”Īs Eastman notes, counterfeit trade presents a significant financial impact, but the threat posed to consumer health is more worrisome. “The packaging is the closest line of defense to the product itself. “Brand protection means ensuring the product is authentic and being sold through the correct channel, so it’s having protection against counterfeiting and diversion,” comments Tessa Eastman, connected products strategist, Systech. We have been busier in the last five years serving this market than in the past 37 years.”Īccording to Fortune Business Insights, the global anti-counterfeiting packaging market was valued at $104.5 billion in 2018 and is projected to reach $189.9 billion by 2026. E-commerce has exacerbated the counterfeiting of products from all over the world. “We have been approached by so many companies to devise secure solutions to their counterfeiting problems. “We have seen a tremendous explosion in the demand for viable security solutions,” explains Dan Lieberman, president and CEO of NanoGrafix.
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Secure solutions have emerged as big business, too, especially with the surge in e-commerce. He adds that this is a booming market, with 8% growth expected from 2021-2026. The seizures amounted to an MSRP of approximately $1.3 billion dollars. Franco Diaz, business development manager at JPatton, adds that this figure is expected to grow to $3 trillion in 2022.ĭiaz notes that Customs & Border Protection seizure statistics from 2020 illustrate 26,503 seizures from all US territories and modes of transportation. Meanwhile, the International Anti-Counterfeiting Coalition (IACC) values the counterfeit goods trade at $1.7 trillion. In 2019 the Organization for Economic Cooperation and Development (OECD) estimated that the trade of counterfeit goods accounted for 3.3% of global trade annually and would continue to grow. Protecting brand integrity through all levels of the supply chain is of the utmost importance, and there are ways to help. While there are seemingly endless opportunities for criminals, there are also numerous avenues for label and package printers to help curb this trend. Trillions of dollars are on the line when dealing with fake goods and product diversion. For those less inclined to follow the rules of decent society, counterfeiting is big business.