Have you ever imagined how Big Replica and Counterfeit market is ? How Fast is it growing? How people make money around the world from the counterfeit market. From India to USA, China to Mexico, Vietnam to London etc. Every corner around the world have such kind of replica markets where you can find original products but just by ‘appearance’, not by ‘authenticity’.
First copy product’s demand in the world is huge as branded products are expensive and everyone wants it but can’t afford it. A good first copy product dealer has an approximate turnover of ₹50 Crores. Let’s Say, the original price of Balenciaga product which approximately costs $900 are sold online from $20 to $100. The copies of these products varies as each is slightly different from another.
Counterfeit, Replica, Grey Markets have a difference?
Counterfeit products are not authorized to produce. These products can’t be distributed or sold through brand’s channel.
All Replicas are not illegal, a replica is legal only if it can be differentiated from the original. Under law if a replica is exactly similar to an original product then the company has the right to take legal action against the replica for violating copyright or trade dress rights held by the brand. A Replica product has slightly different logos, quality and leads which makes it spurious.
Grey markets use brands intellectual property, this kind of market product displays a ‘third shift’ where manufacturers produce extra products to maintain sufficient supply in these markets. Grey market products are genuine as they are manufactured by the original brand itself.
How Market is growing so fast?
Growth rate of Such markets is around 40 to 45 percent. In the digital boom the social media has completely changed the sale, E-commerce are playing a major role as such products are easily available at your doorstep. For example, In India there is no official Balenciaga exclusive store but you can find it’s shoes easily available on amazon, Flipkart, Snapdeal for very less price. Retailers on social media are selling from smartphones to socks and from watches to make up products.
Customer’s Point of view?
If these things are fake why don’t we as customers stop buying them ? The answer to that is everyone loves to use or wear branded products. The world of show off makes people purchase these kinds of products. Luxury brands reflects status symbol and amount of money in your pocket. Counterfeit market is so big that a few percentage of people mistakenly end up buying a fake product even when they were looking for an original one. I mean that you are going to buy an authenticated original product but the market of replica product is so huge that you end up buying a fake one without your knowledge. Instagram and Facebook have many such pages which attracts consumers directly.
About the markets (Name, Country, Product line, Etc)
Overall 80 percent replica sold in India is imported from china.
• Gaffer bazar, Delhi
Mostly deals in technology products from chipset to big Xbox and play stations.
• Linking road, Mumbai
Deals in fashion like clothes, shoes etc. Also, some vendors sell drones and all.
With luxury brands sky rocketing popularity in China, vendors are finding more ways to profit from this consumer demand. As a result, 15 to 20 percent of China’s goods are counterfeits. The large-scale profits and demand for these goods make policing vendors relatively ineffective, allowing counterfeit markets to continue expanding throughout China.
Putin is known as city of fakes in the world
• Garment wholesale centre, Guangzhou
• Silk market, Beijing
English Counterfeit Market.
The two very popular markets are situated in London And Manchester.
• London Camden market
Haggling for a ‘Designer’ Bag in Camden Market Seems Harmless. but Not Only Does Counterfeiting Involve many other illegal businesses. dirty needled tattoos are made you can get fake beats headphones called ‘heats beadphones’.
American and Mexican Counterfeit markets
Canal street, New York
Street market, Los Angeles
People out in Korea are obsessed with fashion as there is a specific counterfeit culture in the country. Fashion Industrialist has noticed a change and demands towards replica and knockoff products. Seoul city plays the major role in such markets.
Vietnamese and Thai’s Counterfeit markets
• Thailand’s mbk market
MBK Market is situated in a mall, so that it is now the tourist attraction place
• Ben Thanh market, Saigon Vietnam (This is the hub of the luxury fake products).
• Keep things in mind what you want. Better take a picture with you Because they won’t able to understand what you need
• Bargain to your maximum capacity and ask them to buy things in bulk
• Use native language words so that they can give you a better deal
At last, I would say that fashion industry is worth almost $2 Trillion where Counterfeit market alone is worth more than $200 Billion.