What potential do manufacturers see in serialisation as a tool to protect against counterfeiting?
Mettler Toledo PCE surveyed European and North American companies for several months. Their responses provide an insight into the current state-of-play across different industry sectors and indicate the value that companies put on serialisation when it comes to fighting product and brand piracy.
Reinhold van Ackeren of Mettler Toledo PCE said: “From our research, one thing is quite clear: serialiation of products will grow. In some cases, such as the food sector, it has already become a significant area for investment outside of the pharmaceutical manufacturing industry where it originated. Not only does serialization help to protect against counterfeit products entering the market, but it can also secure against grey market sales and help identify breakdowns in the supply chain.”
According to the World Customers Organization (WCO), counterfeits make up a total of around 7% of world trade. The economic damage caused by this for both manufacturers and brand owners amounts to hundreds of billions (EUR) each year. In 2015 alone, counterfeits in the global smartphone market resulted in lost sales of around €45 billion.
While serialisation solutions cannot stop counterfeiting, they are a powerful weapon in the fight against product and brand piracy – as the results of the Mettler Toledo PCE Track & Trace Survey make clear.
Key takeaways from the survey results are:
The results of the survey are available now to download for free, from www.mt.com/pce-Track-and-Trace-Study