Counterfeit electronics have rapidly become a major concern for brand owners and is now one of the hottest topics in the electronics industry. Evidence suggests that brand owners lose over $100 billion per year, due to these fake products. An exponential rise has been seen in the supply of counterfeit consumer electronics which has become a major industry headache.
Criminal activities in the electronics industry include producing the counterfeits which come from trashed or recycled products and inexpensive products that are cleaned up and made to look like the new, higher-end products on the market. Unlike most sectors, for the electronics industry product returns, warranty work and other after-sell services are parts of the core competences of the brand, but fakes eat away the brand equity and hijack revenue streams by the return fraud, warranty fraud and services fraud.
Using TrackMatriX® tSaaS to Wipe Out Counterfeit Electronics
TrackMatriX® SaaS is a self-servicing, subscription-based SaaS application that can help dealers of electronics to engage consumers and fight product counterfeiting and parallel trading. The system delivers serialized QR codes for item-by-item product authentication, tracking and consumer engagement. Electronic dealers can select and customize consumer engagement landing pages & anti-counterfeiting schemes.