Hideous Liquors Markets Costing €3 Billion in losses Annually, Whereas 25% of Customers verify the Branding before Purchase
Fake Alcohol and Spirits are creating havoc in the Liquor Market!
While the Alcohol drinks market is expected to grow by 2.1% (currently US$410.40bn) volume in 2024, the numbers for counterfeit liquor are no far behind, costing €3 Billion in losses Annually in the European Union.
According to Euromonitor, 26% of the alcohol consumed worldwide is estimated to be fake, accounting for heavy losses.
And the hideous ways to distil bootlegged alcohol are deteriorating the situation.
For example, a recent finding by India Today exposed the black market of Indian-Made Foreign Liquor in Bihar. The questions put up in the interview revealed that these counterfeiters are purchasing Rs300 per litre spirit (€3.30) for just Rs70 per litre (€0.77).
The investigative reporter himself witnessed one of the bad actors filling the liquor bottles with a bath mug and another sealing the bottle with plastic caps. At the same time, another accomplice was involved in pasting labels of popular alcohol brands on the bottle.
When asked about its risks, they said, “…fake liquor is as good as the original in its taste. You won’t be able to find out”
The counterfeiters even stated that…
“if they mess up with (water-spirit) proportion even slightly, it could be fatal.”
Such unhygienic and sub-standard processes of making alcoholic beverages signify that counterfeiters do not care for anything other than increasing their bank balance.
However, as these reports come forward, customers have already been verifying the authenticity of the alcoholic beverages before they purchase them.
As per an IPO Counterfeit Goods Research (Wave 3), the respondents answered they go through these steps before purchasing any alcoholic beverage:
- 25% of the respondents checked the legitimacy through the Branding of the alcohol.
- 24% of them verified “Where the product is made!”
- 22% of the respondents only buy alcohol products where branding and other attributes are in English
- They check if the bottle and packaging look legitimate (19%)
- Lastly, 17% of the respondents opt not to buy if the product seems too cheap than the actual value.
Even a slight consumption of such dubious alcoholic products can be fatal and, therefore, should be discarded even before a customer’s hands clench them.
It becomes essential for world-renowned brands to take stringent measures and adopt newer forms of technology to identify Counterfeit Alcoholic Beverages in the supply chain itself.
This is where Countercheck can help brands identify and intercept their counterfeit products in coordination with logistics firms so that no fake product can risk a consumer’s health.
Countercheck operates on image recognition and machine learning mechanisms to identify counterfeit parcels in just 0.5 seconds, tracing and stopping 1000+ fake parcels within a month.
Get in touch with us and stop the spread of your counterfeit parcels!