Home Finance Amazon’s Counterfeit Tackling Efforts to Be Expanded to India, Europe and Canada

Amazon’s Counterfeit Tackling Efforts to Be Expanded to India, Europe and Canada

There is no doubt the e-commerce has changed the way people shop, and in fact, changed the way some of the biggest companies in the world conduct their business. In this regard, it needs to be remembered that one company which is responsible for this revolution is Amazon. However, once an industry grows at such a pace, there are certain problems that creep into the whole thing, and one of the biggest problems for Amazon is the sale of counterfeit products on its platform. Since, at end of the day, Amazon earns from the sale of those products as well, it is their responsibility to help stop such malpractices.

In a new development, it has now emerged that the company’s anti-counterfeit tool known as Transparency, which was only ever used in some markets, is not going to be expanded substantially and will be made available in Europe, Indi, and Canada. Those are some of the biggest markets for the company, and it is not a surprise that Amazon is ready to take steps to tackle the problem head-on. The tool in question helps in serializing all products on the Amazon platform and then a QR- code type scanning needs to be performed in order to figure out whether the product is genuine or not. It is a sound step, considering the fact that there are plenty of third-party sellers who ply their trade on the platform and over the years, many of them have been caught selling counterfeit items at the price of the genuine ones.

The VP of Customer Trust and Partner Support at Amazon, Dharmesh Shah, spoke about the ways in which the availability of Transparency might help everyone. He said,

“We created Transparency to provide brands with a simple, scalable solution that empowers brands and Amazon to authenticate products within the supply chain, stopping counterfeit before it reaches a customer.”

Although the tool has not yet grown at the pace at which Amazon may have desired, the expansion into the new markets might help it a lot.

Must Read

Olly Robbins Joins Investment Bank Goldman Sachs

Olly Robbins, Britain’s former Brexit negotiator, will be joining US investment bank, Goldman Sachs. As per the news, he will be joining the US...

Plus500 Review

Plus500, a CFD broker, was established in 2008 in Israel. It is one of the leading CFDs brokers in the world. Traders can trade...

Trade99 Review

Trading has become less consuming these days because of the availability of many online platforms.  Online platforms are user-friendly and do not need any...

eToro Review

Established in 2007, eToro provides a unique online trading platform that connects investors and traders globally. Regulated by FCA and CySEC, eToro has received...

Alvexo Review

Established in 2014, Alvexo is appealing both to advanced and novice traders. It is regulated by CySEC and complies with MiFID. Its compliance with...