The growing impact of counterfeit products on consumers
Johannesburg 10 June 2021 written by Lynne McCarthy
The European Union Intellectual Property Office (EUIPO) reported that the international trade of counterfeit and pirated products is worth up to €460 billion.
Not only does the trafficking of counterfeit products pose a significant safety threat but it also negatively impacts the economic growth of legitimate businesses through loss of revenue, downtime to repair and replace broken products; not to mention the replacement cost thereof.
Counterfeit products also tarnish the brand name and value of businesses, and in many cases causes harm and sometimes fatal consequences to unsuspecting buyers and consumers. At best these counterfeit products won’t perform as well as authentic products would, needless to mention the products’ shorter lifespan as they are not produced under the same specifications of the original manufacturer. The cost of replacement, of easily broken counterfeit goods, outweighs the initial investment of an authentic product.
Counterfeit products are most often of very bad quality as they are not put through the same vigorous safety protocols and checks as legitimate goods, and therefore could be very dangerous.
The growing trend in counterfeit goods, is a concept to which Danfoss is not immune. Danfoss applies a zero-tolerance policy when it comes to fake goods. Over the past years, Danfoss’ strong intellectual property rights team has been hard at work, educating and training our partners, customers, OEM’s and the public on the subject, but also working closely with judiciary- and relevant authorities to fight this battle, with great success.
Engineering Africa for a better tomorrow:
Danfoss is committed to supporting Africa’s growth trajectory and it’s Government’s vision and agenda in upgrading the power sector & infrastructure, by delivering state of the art products and solutions with the latest technology to the Cold Chain, HVAC sector, Food & Beverage Industries, Oil & Gas and assistance in the growing commercial and residential demands, to mention a few.
In a time where cold storage is needed for the safe containment of fresh produce and Covid vaccines, the risk of dabbling in the use of counterfeit parts, is of even greater concern.
In a concerted effort to fight crime and rid the economy of risky counterfeit products, Danfoss has partnered with various local authorities, to educate the public on this ongoing problem and will be hosting public webinars to support this initiative. Please keep an eye on our social media platforms for upcoming events. (Danfoss Turkey, Middle East & Africa)
If you are suspecting that you might have purchased counterfeit Danfoss products by accident, please email your contact details, clear images and where you purchased the goods from, to firstname.lastname@example.org.
For more information:
Lynne McCarthy, Marketing & Communications Specialist, Danfoss Turkey, Middle East & Africa
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