For any car enthusiast, modding is always the kind of passion they associate themselves with. And who wouldn’t endorse the idea of modding since it enhances the aura of any given vehicle?
The only downside of modding is probably its cost since it is very expensive. But with the sudden influx of the modding community, the counterfeit industry of modding has grown pretty big. It has somewhat become an affordable choice to mod the vehicle.
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The exponential growth of the number of fraud cases is concerning since there is a high chance of getting duped than being killed. The extended amount of loss suffered by the insurance sector just for the sole reason fraudsters is very evident with the loss of more than Rs 30,000 crore/annum. An investigation has also stated that the insurance agency is single-handedly losing capital and assets for this very reason.
Most of the insurance cases occur mainly due to the various false claims, and as for other instances, the policy that you have brought might end up being fake.
Due to the increase in counterfeit part, there is an impending concern on the reliability of electronic components. The effects of counterfeit elements usually have a brief lifespan which might break the monotonous chain of a system or even cause circumstantial hazards.
The parts might come in for cheap, but the effectiveness of it and its reliability is far from being certain. The various parts which are being counterfeited might vary from scrapped parts to even reclaimed parts.
Electronic products are intrinsic to our lives now, and we can’t imagine our lives without it. With the exponential growth in demands, high-tech and low priced products are being launched each year keeping the affordability factor in mind.
Sometimes these products have lower prices that might be alluring for most consumers. These products are available and are pretty much visible everywhere from online to retail stores.
The act of counterfeiting of commodities coming from different kind of industries has been on a steady rise for quite some time now. This has resulted in original companies incurring huge losses because people are either buying the fake products because they are unable to differentiate between the original and the knock-off or because they want to have the good looking products without having to pay the sum required for the original one. It is important to you as a business owner to be aware of how such a practice harms your business returns.
It must be brought to your notice that the counterfeiting business has risen steadily in recent times and therefore such counterfeit product makers have now upped their game several notches. They are using different ways in which they can achieve high standards of sophisticated replication which make it increasingly difficult or tough for buyers to be able to distinguish the knockoffs from the original when kept side by side. In light of such events, it is not enough to merely inform your customers of possible replication of the products but to also take necessary steps to avoid such a situation completely.
Counterfeiting and duplication of goods is a big problem in today’s world, and one has no other choice except to find new and more innovative ways to save your product from duplication.
A lot of new ways such as Unique Barcode Labels, Custom-made Discount Coupons, Duplication Proof Labels, Hologram Warranty Stickers, Tamper-Proof Stickers are the many ways a manufacturer can save their product from being duplicated. (more…)
Counterfeit goods have long dominated the world. However, it is about time to show them their rightful place. It is precisely why not only companies should ensure that the product is completely secured, but you, as a buyer, should also check your safety points. To prevent the brand from being destroyed slowly and silently, it is not enough to only use a hologram or trace the product. Rather, constant vigilance as a manufacturer is demanded from the side.
It is important for every pipe & fittings business owner dealing commodities to have a sound idea of the ongoing trends of the world where counterfeiting of goods is increasingly becoming an unfortunate reality. You will be shocked to know that even though more and more companies are actively taking part in practices that could help combat counterfeiting of commodities churned out by big brands. It is not proving to be enough for the simple reason that the more business owners are tightening the security of their goods, the smarter the counterfeit specialists are also becoming themselves every day. (more…)
