Counterfeiting Growth (Cont’d from Page 1) all at the expense of American workers, consumers and businesses. The NAM is leading the fight against counterfeiters to ensure the strength and stability of our economy and the health of the American people.” Counterfeiters target a wide range of products, a far greater swath of goods than most consumers would ever imagine. The recent rise in e-commerce, further fueled by the COVID-19 outbreak, has led to a mas- sive uptick in fake consumer products, especially in China. In 2019, more than 8 of every 10 counterfeit products seized at United States borders came from China or Hong Kong. Counterfeiters have exploited the anonymity and lack of oversight afforded through e-commerce to continue to push illegal goods. E-Commerce Surges E-commerce sales now make up 10 percent of all re- tail spending, up from 3 percent of total sales in 2009. Pre-COVID-19 estimates predicted that global e-com- merce sales would exceed $4 trillion in 2020,with U.S. e-commerce spending to exceed $1 trillion by 2025, doubling the volume from 2018. The spike in e-com- merce during the COVID-19 pandemic has added fuel to the fire and will push these numbers even higher. A surge in counterfeits accompanies a growth in e-commerce. And with the extraordinary growth of e-commerce sales, which are expected to exceed $4 trillion by 2020, counterfeiting will continue to surge, as well. According to recent statistics, the global trade in counterfiet goods exceeded an astounding $500 bil- lion in 2016, which is 3.3 percent of all global trade. It is estimated that authorities in the United States catch less than 2.3 percent of the total volume of counrter- feit goods. The NAM estimates that counterfeiting subtracted nearly $131 billion from the U.S. economy in 2019, in- cluding $22.3 billion in lost labor income and more than 325,500 fewer American jobs. This upsurge in counterfeiting threatens the invest- ments that manufacturers put into developing new products and violates their intellectual property rights. Manufacturers in the United States perform nearly two-thirds of all private-sector research and develop- ment, totaling $271 billion in 2018.14, according to NAM’s report. The activities of counterfeiters can do irreprible damage to the brand loyalty in which companies de- vote so much money, resourcs and attention. Con- sumers become confused about the quality and ori- gin and products and services when trademarks are infringed upon.
Experience the power of SWED/CUT ® “Anydefect,anymid-runpressstop, canentirely eliminiatemargin froma job. AsQAManager, it is up tome toprevent wastebefore it happens. That’s why I rely on FLXON’s products and support togainour competitiveadvantage. QAManager,WideWebPressroom
Columbus, OH - Booth #854
SWED/CUT ® PERFORMANCE DOCTOR BLADES
Meter More Precisely Print Cleaner Dots Longer Protect Anilox Investment Avoid Mid-run Press Stops Experience No Break-in Time Receive Fewer Customer Complaints Reduce Your Annual Doctor Blade Spend
FLXON INCORPORATED 8531 Crown Crescent Court, Charlotte, NC 28227 (800) 756-6474 I (704) 844-2434 I wecare@flxon.com ASK ABOUT OUR 100% SATISFACTION GUARANTEE!
equarterHOUSEAD.qxp_Layout 1 8/13/19 6:21 PM Page 1
www.flxon.com
In addition to its bi-weekly print edition, Flexo Market News also offers unprecented online reach for advertisers, as well. * Every ad in our print edition appears in our online edition, which includes a link back to your company’s website. • Banner ad opportunities exist at both www.flexomarketnews.com and www.nvpublications.com.
• Exclusive online sponsorships allow your company to have sole ownership over online content, in addition to your ad on a web blast that goes to our readers. • Web blast sponsorships that reach our entire
readership with your exclusive content. FlexoMarketNews.com
NVPublications.com
(Cont’d on Page 7)
4 August 3, 2020 Flexo Market News
www.nvpublications.com
Made with FlippingBook Online newsletter