How NanoMatriX Solutions Act As A Life Saver In The Audio Industry?

Everyone appreciates money-saving deals on electronic products, and nowadays, it’s extremely easy to find such lucrative deals on the internet. Unfortunately, the rise in online shopping has given a boost to the counterfeit market. NanoMatriX Solutions

Therefore, not only the consumers but the brands also face the negative impact of counterfeit products.

The audio speaker industry is a big victim of counterfeit products. Due to the development of e-commerce sites, it is infinitely easier for counterfeiters to mix the products with genuine products.

However, lack of physical examination of the product, consumers buy fake products, even though they intend to buy original material. And, when they purchase those fake or counterfeit speakers, all they get is:

• Speakers with low sound quality
• Speakers with short life-span
• No customer support

Besides, lack of awareness makes customers more vulnerable to getting duped by fake goods. In such a situation, an anti Counterfeit solution can help!

Impacts of Counterfeit Products on Brands

• Damage Brand’s reputation: Most of the consumers are unaware about fake products. When consumers face problems with it, they blame the authentic companies for selling substandard products.
• Revenue loss: If the copycats start selling fake products at low costs, the brand will end up losing revenue.
• Destroy partner’s trust: The copycats can harm the confidence as well as destroy the investors, distributors, retailers, and other business partners.

Problems Faced by Audio Speaker Companies

Product returns, warranty work, and other after-sales services are among the brand’s core competencies in the electronics industry. But counterfeits disrupt brand equity and trade-in revenue streams through return fraud, warranty fraud, and service fraud. In addition, it has become a major puzzle in the electronics industry.

• Counterfeit products entering the supply chain: Loopholes in the supply chain provide opportunities to counterfeiters.
• There is no reliable way to track products during transit: Most counterfeit goods enter your supply chain during the logistic/transit face. If the brand lacks a secure way to track products in this stage, knockoffs will keep harming the brand reputation.
• Counterfeiters sell fake products in the original boxes: Counterfeiters may arrange original packaging boxes or create copies with serial numbers of your original products to fool the consumer and steal your revenue.