According to Michael Lamont, a partner at Spoor & Fisher who specialises in combatting counterfeiting in southern Africa, counterfeit goods are estimated to cost the South African economy billions of rands on an annual basis. When considering the associated loss of tax revenue, the true cost of counterfeiting could be much higher – and the problem seems to be getting worse.
Given the current economic climate in South Africa and in many of our neighbouring countries, there is a steady increase in the demand for cheaper goods. This demand is often satisfied through the purchase and consumption of counterfeit goods, causing the counterfeiting marketing to grow at a steady and unprecedented rate. Lamont states that counterfeit or fake goods are generally perceived to be limited to clothing, footwear and other luxury items, but in truth no product, brand or industry is immun
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