Counterfeit products result in billions of dollars of lost revenue each year. The global pharmaceutical industry alone deals with $75 to $100 billion in counterfeit products annually. In the European luxury good market, 10% of all items are counterfeit, representing approximately $28 billion in lost sales.
Companies have been battling counterfeiting for years, investing time and resources to protect consumers from the risk of fake pharmaceuticals and defective parts. When it comes to counterfeit pharmaceuticals, the consequences are fatal.
Until now, companies have had to fight this battle in the dark. Counterfeiters are clever, and fragmented data, networks and sourcing arrangements make it difficult to trace and authenticate products. Provable authenticity is critical to saving lives and establishing confidence in a brand.
From pharmaceuticals to luxury goods, Tangem cards and tags can guarantee the authenticity and provenance of a product all the way from the factory floor to the consumer’s hands.