Everything you see is not Original
Ayush Jhawar
Founder @Genefied, Fastest Growing Enterprise SAAS for Traceability with Loyalty in Consumer Brands
Did you know the fake goods, imitated consumables, and fraud products have touched a 2 trillion dollar mark in terms of products lying in the market? These are some of the Industries affected badly
- Computer Accessories and Hardware
- FMCG
- Water, F&B & Dairy Products
- Luxury Accessories (Bags, Belts, Shoes & More)
- Health Supplements & Drugs
- Automotive Parts
- Sports & Fitness Equipments
Consumers want to buy a Real US polo T-shirts but they get fake ones. They want to buy original medicines but end up getting bald/diseases/side effects soon because they cannot identify medicine was fake. Automotive Parts, FMCG goods, drinking water, Luxury watches almost all top brands are suffering from it even after safeguarding themselves from proprietary designs, holograms, branding and more. It is so bad in India and China that they have 35% to 40% of goods lying fake in the market. Chances are you go buy a packaged bottle of water and might end up falling sick.
A simple Hologram does not really tell whether the products are real or fake. A hologram can be copied on again to give absolutely lookalike product which cannot be identified by the naked eyes. I'm not mentioning that they cant safeguard but my argument is not to the extent we want them to.
It is not as simple as we think. I'm going to elaborate myself through a real-life example, A builder once sent his purchase manager to buy electrical wires from the best company available. He brought them and it was installed in the building to give the best results. At the end of the year when the building was occupied, a fire broke out and the entire building burned down. Later it was discovered that the wire installed was a copy of the original wires and not the original one. The compensation could not be claimed and the lawsuit was ordered to find the mafia but the Police failed. Even today the family seeks justice. The Impact of fake goods can be huge. Imagine if the Builder or the management could get a way to scan and verify to authenticate Product's real or fake nature, lives could be saved and safeguarded. We Imagined a way to do that through our App! GenuineMark
We are GenuineMark. Introducing an app based mechanism to scan and scratch and uniquely identify on our app about the product authenticity through our encrypted transaction and verification.
Smart Labels: These labels not only genuinely safeguard the authenticity of the products but also give consumers feedback, ratings, know-how, and insights to the brand. Its a unique way telling a brand's story to the user through IOT.
Digitise Warranty Mechanism: Warranty mechanism is the biggest problem for all high-end products. We make a warranty wallet and safeguard the issue of saving warranty in the app as soon as the consumer buys the product
Enhancement not Replacement: Business owner think about the cost-effectiveness of our product. Well, this is an enhancement and not a replacement or addition to your cost. The tags which we produce are a replacement to the old barcode (non GS1) labels, we add up to the current technology not replace it.
We are now working with 20+ brands to provide their consumers a powerful insight into the brand and trying to make an effective anti-counterfeiting and security company.