Brand equity is the value of a brand, driven by consumers’ perception of its quality and desirability. Maintaining strong brand equity is crucial for brand owners, yet many are unaware of the market share they lose to counterfeiters.
The growing threat of counterfeiting
Counterfeiting worldwide is growing rapidly, and it is estimated to rise from 3.5% of global trade to 5% by 2030. South Africa is no exception, with counterfeiting costing the country billions of rands annually across many sectors. For example, a June 2024 raid in Cape Town uncovered R24 million worth of illicit alcohol.
Counteracting counterfeiting
Incorporating effective brand protection solutions into product packaging is essential to combat counterfeiters. These solutions make it very difficult for counterfeiters to copy a brand, often diverting them to other less securely packaged brands. Brands can be significantly elevated and enhanced by making the packaging more secure and attractive, thus increasing the customer’s engagement and confidence in the brand.
Synchron and KURZ: Leaders in brand protection
Synchron represents the German-based KURZ group in Southern and East Africa, providing advanced brand protection solutions. These include 3D brand decoration, high-security holograms (Trustseal), Secure Codes (Trustcode) and secure tamper-evident labels, which are increasingly popular for their practical design and effectiveness.
Trustseal and Trustcode: Advanced security solutions
The Trustseal hologram, combined with Trustcode, offers a physical check and a digital authentication via a cell phone, boosting customer confidence, engagement and brand equity. This technology helps remove fakes from the market and provides valuable data to brand owners.
South Africa’s fight against counterfeiting is critical for protecting brand equity and ensuring consumer trust. Counterfeit goods damage a brand’s reputation and pose significant financial risks. By adopting advanced anti-counterfeiting measures like those offered by Synchron and KURZ, brands can safeguard their products and maintain their market position. Effective brand protection solutions, such as Trustseal and Trustcode, provide robust defences against counterfeiters and ensure that customers receive genuine products. Investing in these technologies is essential for brands to thrive and protect their valued reputation.
For more information on enhancing and protecting your brand, contact Synchron today at jamest@synchron.co.za.
© Synchron Fabrics & Foils, July 2024
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