In the US alone, in 2016, US$1.4bn of counterfeit consumer products were seized by the United States Customs and Border Protection.
These included 2,000 shipments of counterfeit cosmetics, costing the beauty industry at least $75m, according to US-based Clarkston Consulting.
But the real cost could be more when you take into account undetected counterfeits and the loss of brand reputation and loyalty.
Nothing knocks consumer confidence in a cosmetics brand more than a product failing to deliver on marketing claims, especially when a product is a counterfeit, said a note from UK-based printing label specialist Denny Bros.
The global cosmetic packaging sector is, therefore, increasingly upping its game against fakes, offering ground-breaking anti-counterfeiting solutions that incorporate artificial intelligence (AI), nano-engraved un-copiable features and other techniques.
AI goes above and beyond
As for AI, France-based start-up Cypheme Europe has developed an artificial intelligence capable of