Fake food and drink on the rise
30th October 2007 by Alex Briggs
This article talks about an issue that most would identify with brand name clothing; counterfeiting.
Counterfeiting costs the food and drinks industry an estimated $75 million, not to mention the damage to brand reputation and consumer confidence. With an increase between 2003 and 2005 of 250% in the volume of counterfeited food and drink items, there is a clear need for collaboration between industries and governments to fight the problem.
Consumer trust is the key commodity that major brands today are selling. Combine the recent food safety scares with the possibility that your food might not be what you think and there is a clear need for business to take proactive measures to restore consumer confidence.
