Counter Counterfeit Products
October 2021 – Meiyume is proud to announce a new clone-proof anti-counterfeit solution that taps into blockchain track and trace technology to protect brand owners from grey market trading and counterfeit product sales.
RISE IN COUNTERFEIT TRADING
Trade of counterfeit products has risen steadily over the last few years, posing as an alarming threat to a wide range of industries. Counterfeit products increase the risk of disruption in the supply chain which can lead to high costs in delays, product recalls, loss of revenue, and even legal action when they impair consumers’ health. Such low-quality imitations have led to dire health consequences, mainly in the beauty and wines & spirits industries, where rashes and gastronomical issues have occurred, respectively. Besides that, the misappropriation of brands’ intellectual property significantly erodes the integrity & reputation of brands.
THE MEIYUME SOLUTION
By using a unique clone-proof identification code and a hidden QR code on any packaging, brand owners will be able to track and trace the product through the supply chain, prove its authenticity, enable consumer engagement, and gather business intelligence – elevating the consumer experience and preventing trade in counterfeit goods.
MAIN FEATURES OF THE UNIQUE CLONE-PROOF IDENTIFICATION CODE
During the pre-purchase process, consumers can scan the identification code (first-layer), using a mobile application or browser, to receive information on the product’s source, its authenticity, and other brand engagement information. By doing so, data gets recorded in a tamper-proof blockchain system where brands and retailers can track product movement and identify possible grey market sources by analysing the scan data.
Scanning the hidden QR code (second-layer) upon purchase on a registered mobile application account allows for more personalisation where consumers can record the ownership of the product and store it as part of their own collection, for instance, a personal liquor collection.
This solution comes with a gifting feature in which consumers can transfer ownership of their registered products to another consumer or record the sale of their product on the secondary market. Brand owners can encourage brand engagement through real-time communication via various marketing functions on the mobile application.
Through interaction with the clone-proof identification code or mobile application, various data points and statistics are recorded in an AccessReal dashboard. As a result, brands will gain visibility into consumers’ demographics, purchase behaviour and frequency, and marketing and content impressions. This information can then be translated into valuable data insights to help brands shape their business strategy.
Protect your brands’ authenticity by using the latest technologies from Meiyume’s bespoke retail solutions.