Why Tag, Test and Track Leads to More ‘Clean,’ Fewer Counterfeit Products
Counterfeiting is unfortunately still a widespread problem in the supply chain, with the U.S. Customs and Border Protection (CBP) seizing more than $1.3 billion in goods in 2020.
The CBP report, released in September 2021, indicated that handbags and wallets were the most frequently counterfeited type of product at 17 percent of all goods, followed closely by apparel/accessories (16 percent) and footwear (13 percent).
If you’re a luxury buyer, this problem is even worse. Given that luxury goods are a $316.2 billion market that could grow to $352.8 billion in 2027, according to Fortune Business Insights, counterfeiting shows no sign of waning.
