From fashion to food and beverage, consumers want products that are real, safe, and effective. In fact, 67% of consumers say they worry about product authenticity when buying goods for their friends and family, according to a new survey sponsored by Digimarc. While product authenticity and quality are important to consumers of all ages, not every demographic is concerned about the same things — or concerned to the same degree.
Consider that 83% of Millennials care about the authenticity of luxury goods, while less than seventy percent of Gen Zer's care about the same. And 79% of Boomers worry about the authenticity of the apparel they buy, but less than two-thirds of Gen Zer's share the same worry.
Nearly 70% of Millennials say they worry about the authenticity of baby formula. Though Boomers see the need for authentic baby formula, they care about pharmaceuticals more — 83% of them say they care about if the pharmaceuticals they buy are genuine.
When it comes to product quality, i.e., whether a product is safe, healthy, and effective, almost 100% of Boomers say that when it comes to food and beverages, they worry about the health and safety of their loved ones, but less than two thirds of Gen Zer’s feel the same. Nearly 90% of Millennials say they care about aftermarket auto parts and whether they’ve been frequently recalled, but only 66% of Gen Zer’s share that concern.
It’s easy to see that consumers across age ranges have some angst about product authenticity and quality. So, when consumers discover they’ve purchased a fake or they learn that a brand they like has had issues with counterfeiting in the past, their perception changes. Half of all consumers surveyed at every age said they would not buy from a brand again if they bought something that turned out to be counterfeit, and 47% said that they’d lose trust in a brand if they found out it had issues with counterfeiting.
How can brands combat this? By investing in product digitization.
Product digitization is key to achieving global and comprehensive visibility into products as they’re made, delivered, used, and recycled so the enterprise can ensure authenticity and traceability, maximize performance, and speed up innovation. Digimarc brings a business' products to life so they can see everything about their products’ past and present — and make intelligent business decisions about the future of those products.