Why do consumers purchase counterfeit products?

Counterfeits are packaged and labeled to resemble the original brand-name and generic products. The ‘influence of society’ and ‘value for money’ have been identified as the top two reasons that motivate consumers to buy fake products based on a survey conducted.

What are the factors that contribute to the sale of counterfeit goods?

Six primary factors that influence counterfeit purchase have been identified and the TRA has been applied to investigate the impact of these factors on consumer behavioral patterns. The factors are (1) social motivation, (2) personal gratification, (3) perception, (4) value, (5) brand loyalty, and (6) ethics.

Why do people buy fake designers?

Counterfeiting is a serious economic and social problem, epidemic in scale. Most people buy these fake brand-name items because they are a lot cheaper than the real deal, but this research suggests that a hidden moral cost has yet to be tallied. The Counterfeit Self: The Deceptive Costs of Faking It.

How many people buy counterfeit products?

The poll showed that 26 percent of respondents “have been fooled into buying fake goods over the past 12 months.” Authors of the report also found that 32 percent of U.S. consumers said they “definitely” and/or “maybe” made online purchases of fake apparel, jewelry or leather goods while 22 percent of respondents “ …

What do you understand by counterfeiting?

To counterfeit means to imitate something authentic, with the intent to steal, destroy, or replace the original, for use in illegal transactions, or otherwise to deceive individuals into believing that the fake is of equal or greater value than the real thing.

What are fake products called?

Counterfeit products
Counterfeit products are fakes or unauthorized replicas of the real product. Counterfeit products are often produced with the intent to take advantage of the superior value of the imitated product.

What are the effects of fake products on economy?

This report shows that the infiltration of counterfeit and pirated products, or IP theft, creates an enormous drain on the global economy – crowding out Billions in legitimate economic activity and facilitating an “underground economy” that deprives governments of revenues for vital public services, forces higher …

Is it unethical to buy counterfeit goods?

Manufacturing, distributing and selling counterfeit goods is illegal and unethical. Buying designer “fakes” (goods that carry a designer’s logo or label but were not made by the designer’s company) violates the intellectual property rights of the designer.

Are customers the victim when they buy counterfeit goods or are they willing participants?

Consumers are willing to accept counterfeit goods, although they know counterfeiting is a civil or criminal crime (Bloch et al., 1993; Cordell et al., 1996; Tom et al., 1998). Willing purchase of counterfeits falls into the class of non-normative consumer behaviour.

Where are counterfeit goods made?

China
Factories that manufacture counterfeit designer brand garments and watches are usually located in developing countries, with between 85 and 95\% of all counterfeit goods coming from China. International tourists visiting Beijing, China, may find a wide selection of counterfeit designer brand garments at the Silk Street.

What are the effects of buying counterfeits?

There are economic impacts, legal implications, and health and safety risks that are important for you to know before you buy. Particularly, when shopping online, beware of counterfeit goods. Fake goods can lead to real dangers. Each time you buy a counterfeit good, a legitimate company loses revenue.

Where do counterfeits come from and what are they?

Basically everything people consume, counterfeit manufacturers and distributors can produce them all. Today’s counterfeits products are easily seen in places and mainly in all over the online markets. Fake products have been growing large and expanding across the world, especially consumer demands for these products have been rising.

Why do so many people buy fake goods?

Another reason why many people buy fake goods is because they feel pressured to buy into the latest trends. This pressure has accelerated with the advent of social media, which often promotes a lifestyle filled with luxury goods and the latest trends.

Where do counterfeit goods come from in China?

On the street, at the malls, or at the markets for counterfeit products. In which China is the main country to produce imitated goods from luxury brands products, clothing to electronics and even to cosmetics and medicines which are high in risks.