Fast moving consumer goods (FMCG), otherwise known as CPG (Consumer Packaged Goods), are defined as products that sell quickly at a relatively low cost. This can include but is not limited to packaged foods, cosmetics, beverages, cleaning supplies and other low-cost household items. Alarmingly, in 2020 ‘foodstuffs (in particular cookies, pasta, crisps and sweets) were the second most commonly seized category of products at the EU’s external border’ according to the Intellectual Property Crime Threat Assessment published by Europol.
It goes without saying, that counterfeit food and beverages can pose serious risk to consumers’ health. Meanwhile, counterfeit toiletries and cleaning supplies can cause adverse reactions to their users as well as the environment.
Not only do counterfeit consumer goods put the consumer at risk, they also cause significant damage to a brand’s reputation, disrupt supply chains and cost companies both revenue and consumer trust. In fact, a recent study found that 39% of respondents will no longer trust brands with fake products, showing the detrimental effect counterfeit consumer goods can have on consumer and brand relationships.
To help tackle the rise in counterfeit consumer goods, we have created the world’s first quantum anti-counterfeit solution for FMCG.