Lian He Wan Bao
21 March 2007
Safest to shop in Singapore as the chance of buying fake goods is low
On page 6 of the evening Chinese paper, an article ran reports from Spire’s press release on counterfeits.
In a survey conducted by Spire, Singapore is the least possible place to produce counterfeit goods in Aisa. Purchase from illegal vendors also carries a heavy tag.
China is deemed to produce the greatest amount of counterfeit goods, among the eight Asian countries studied – China, Hong Kong, Indonesia, Korea, Malaysia, Philippines, Thailand and Singapore.
Besides fake branded goods, other common counterfeit goods include: Spare parts for cars, sports products, branded skincare products and medicines.
The Business Times
22 March 2007
Singapore least tainted by fake brands, poll shows
The Business Times wrote an article on page 10 based on Spire’s survey, highlighting Singapore as the least tainted by fake brands.
Profits lost by legitimate producers across the four broad categories of luxury, automotive, FMCG and IT is averaged at 20%.
Survey respondents cited China as the number one source of counterfeit products, followed by Hong Kong, Indonesia, Thailand and South Korea.
Spire’s group managing director, Leon Perera, was quoted: “The invasion of this bootleg industry from branded luxury products into everyday items like milk powder and over-the-counter medication has had devastating consequences, with many unnecessary deaths.”
Counterfeiters are also getting more sophisticated with production methods and organized and consistent efforts are required to clamp down on these activities.
Spire Research and Consulting is the leading research consultancy in global emerging markets. Spire's competitive advantage lies in its ability to deliver actionable intelligence on the external business environment in support of its clients’ strategic decision-making in marketing and business development. Spire's clients include 50 Global Fortune 1000 companies and government agencies in 15 countries. For more information, please visit www.spireresearch.com.