Walking the Talk: Uncovering the Secrets of the Indian Market

Dear B2C Brands,

Welcome to our latest newsletter, where we embark on an extraordinary journey into the captivating world of the Indian footwear market.

Join us in this edition of Genefied Communique to explore deep into the industry's underbelly, exploring the rampant issue of fake and counterfeit products while uncovering the driving factors behind their proliferation and the hidden truths of the Indian footwear market.

Let's get started!

?? Soaring Growth: India Footwear Market

The Indian footwear market has witnessed an unprecedented surge, reaching a staggering value of USD 11.7 billion in 2021. According to projections, it is set to skyrocket further, aiming to touch a remarkable USD 25.5 billion by 2028, reflecting a phenomenal CAGR of 11.70% during the forecast period of 2022-2028.

?? The Dark Side: High Penetration of Fake and Counterfeit Footwear

Within the realm of the Indian market, a dark shadow looms large – the widespread prevalence of fake and counterfeit footwear products. With China and Hong Kong accounting for a staggering 63% of these illicit goods, India stands as a distant third with a share of 3.4%. This alarming trend poses a significant challenge to the industry's integrity.

?? The Art of Imitation: Counterfeit Footwear Industry

Counterfeiters possess a unique ability to replicate eye-catching footwear designs and fancy shoes with alarming accuracy. While genuine brands invest copious amounts of creativity, energy, resources, and craftsmanship into their products, counterfeiters require nothing more than an image or a single unit of the original product to imitate and flood the market with cheap imitations. These deceptive knock-offs are made available at a fraction of the price, luring unsuspecting consumers.

?? Footwear industry accounts for 22% of counterfeits seized by customs, surpassing clothing and electrical equipment

?? Three Reasons Behind Counterfeit Footwear's Popularity

The footwear industry has emerged as the most pirated product category, outshining clothing and electrical equipment. Let's explore the three key reasons driving this troubling trend:

1?? Brand Craze and Easy Accessibility: Consumers crave brand-oriented and visually captivating footwear products. With the rise of e-commerce and social media marketplaces, these enticing products are readily available at the click of a button, making it convenient for counterfeiters to exploit this demand.

2?? Influence of Icons: Influencers, sports personalities, and film professionals play a significant role in shaping consumer behavior. Their endorsements often create a frenzy, leading consumers to purchase deceptive counterfeit products as a way to showcase their love and support for their favorite teams, film stars, or influencers.

3?? Youthful Aspirations: The target consumer base for big footwear brands falls within the age bracket of 15 to 35 years. This demographic is driven by a desire for attention and admiration due to their vibrant social lives. The allure of owning the latest products drives them to seek out newer alternatives, inadvertently falling victim to counterfeit footwear.

?? Collaborative Efforts: Combating Counterfeiting

To combat the counterfeit footwear epidemic, collaborative efforts between brands, manufacturers, and solution providers like Genefied are crucial.

Implementing robust anti-counterfeiting solutions, ensuring strict supply chain traceability, and educating consumers about the risks associated with counterfeit footwear are vital steps toward safeguarding the industry.

Genefied - Empowering the Footwear Industry with Futuristic QR Codes! ?????

We've cracked the code to secure your supply chain, products, and customers from the clutches of counterfeit losses. ?????

Our secret weapon??

Tamper-proof digital QR codes armed with multi-layer authentication and encryption. With a swift scan, brands can unmask counterfeit impostors, delivering a knockout blow to the fakes. ????

But that's not all!

Our anti-counterfeiting QR codes serve up real-time alerts, alerting you whenever a devious doppelg?nger tries to infiltrate your supply chain. It's like having a personal counterfeit watchdog by your side! ????? ♀?

But wait, there's more! ????

Brace yourself for increased customer lifetime value (CLTV) as our trust-instilling QR codes build an unbreakable bond with your buyers. They'll keep coming back for more, knowing your products are the real deal. ????

And here's the icing on the cake: SupplyBeam, our marvel of QR code-based traceability and logistics solutions.?

It shines a spotlight on your supply chain, ensuring every step is transparent and fortified with multi-layer authentication. ???

Say goodbye to uncertainties and hello to brand protection and product authenticity. ?????

Secure. Authenticate. Dominate.?

Get ready to embark on a revolution against counterfeits with Genefied. It's time to unlock the potential of your footwear brand and empower your success!

Join us in our mission to protect the Indian footwear market from the clutches of counterfeiting and foster a thriving industry built on trust, quality, and innovation.

Contact Genefied today to learn more about how our QR code-based brand protection, authentication, and trackNtrace system can help your brand achieve its authenticity and goodwill!

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