Ebay look to tackle counterfeiters
Select language to see a machine translation of this article. The original language of the Article is English and the translation is provided for your convenience.

Ebay look to tackle counterfeiters

The wide spread of online shopping platforms have made picking up a new pair of trainers, a television or a luxury handbag much easier than ever before. However, there is always a lingering threat as to whether the goods you are buying are the real deal. But, Ebay are trying to change this with their new initiative.

It is one of the main issues that affects all of the major players in ecommerce and creates doubts in the mind of their customers. Counterfeiting is a real problem as criminals from all over the world look to make a big profit by selling fake luxury goods from handbags to watches to fragrances.

To try and make sure their platform is as trustworthy and reliable as possible, Ebay have announced that they will be bringing in a brand new authentication program for the website’s high-end designer goods.

Ebay are starting a pilot program in the US, called Ebay Authenticate, which will see the companies create a network of professional authenticators, which will be able to verify the integrity of products. Sellers will be able to opt in to have their goods verified, to prove to customers and improve confidence in their third-party seller goods.

Writing in Tech Crunch, Sarah Perez, said: ‘While eBay’s program isn’t necessarily targeting just pre-owned items, that’s a segment of the e-commerce space that’s seen a lot of growth in recent years. A number of online businesses today (think The RealReal, Tradesy, ThredUp, and others) sell pre-owned fashion apparel, handbags, shoes, and jewellery, allowing consumers to buy high-end brands at a discount. Many, if not most, of these businesses authenticate the goods as part of the process to keep forgeries off their site.’

Boosting consumer confidence in Ebay’s platform is crucial for their business, as this peace of mind is often one of the main motivators behind people opting to go into shopping centres and actual stores ahead of online purchasing.

Laura Chambers, vice president of consumer selling at Ebay, said: “We know that many shoppers may be hesitant to purchase high-end products online. This service is designed to help quell some of those concerns – and in turn – enhance the opportunity for our sellers to get top dollar for their items.”

As an extra sign of reassurance and to increase trust in Ebay even more, the company have offered to refund buyers two times the cost of the original purchase price (depending on region and terms) if the item is found to be a fake after the inspection.

Dominion holds Ebay in its Global Trends Ecommerce Fund.

If you would you like to receive the Newsfeeds daily, please click here to sign up now!

Help us make this Newsfeed better by rating this article. 1 star = Poor and 5 stars = Excellent
0.0/5 rating (0 votes)

The views expressed in this article are those of the author at the date of publication and not necessarily those of Dominion Fund Management Limited. The content of this article is not intended as investment advice and will not be updated after publication. Images, video, quotations from literature and any such material which may be subject to copyright is reproduced in whole or in part in this article on the basis of Fair use as applied to news reporting and journalistic comment on events.