"Buyer beware" applies now, more than ever, as holiday shoppers take to the web and mobile to snap up bargains. According to the latest MarkMonitor Shopping Report, one in five bargain hunters in the U.S. and Europe mistakenly shopped on e-commerce sites selling counterfeit goods while searching for deals online.
“Consumers are being waylaid by rogue e-commerce sites, causing brands to lose business. The findings from our Shopping Report underscore the importance of developing proactive brand protection strategies in the digital age,” said Fredrick Felman, chief marketing officer of MarkMonitor, Thomson Reuters' enterprise brand protection business.
Working with Nielsen “to analyze anonymized data from Nielsen’s permissioned online panelists in six countries over a nine-month period, nearly five million shopping sessions were surveyed…focusing on the search terms the shoppers employed, such as 'fake,’ 'replica,’ 'cheap' or ‘discount,’ to determine their motivation.”
The MarkMonitor Shopping Report examined multiple demographics including age, income, education levels, and household size, and found that there are only minimal differences between online consumers seeking counterfeit goods and bargain hunters looking for a good deal on legitimate goods.
“These findings really challenge the common assumption that consumers who purchase counterfeit goods are distinctly different than those consumers buying genuine goods,” said Eric Solomon, SVP, global digital audience measurement, Nielsen.
“Deal seekers outnumbered consumers seeking fakes at the rate of 20 to 1,” notes the release from MarkMonitor, but deceptive pricing on counterfeit goods, often priced comparably to legitimate goods on sale, discounted at 25–50% off list prices, suggest ‘blowout’ or year-ender sales and lure unsuspecting shoppers.Continue reading...