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Combat gray market sales today
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Combat gray market sales today

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The term “gray market” can be used in multiple ways. The two primary usages of this term indicate a market for legal goods that is carried on in a manner that is not intended by the original …

The term “gray market” can be used in multiple ways. The two primary usages of this term indicate a market for legal goods that is carried on in a manner that is not intended by the original manufacturer of the goods.

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  • 1. Combat Gray Market Sales TodayRapid and innovative development in the internet technology have played in an essential role inflourishing eCommerce and online shopping sites. There are times when you come across onlinedeals with attractive discounts and offer prices. Though it all seems lucrative at the first glance, butthere is a high chance of these products being duplicated by unapproved channels and sold at alesser or higher price. Hence, there is no guarantee that these products and their prices areauthentic. The internet today has given rise to gray market or parallel markets that sells faulty goods.Defining Gray MarketThe term “gray market” can be used in multiple ways. The two primary usages of this term indicate amarket for legal goods that is carried on in a manner that is not intended by the original manufacturerof the goods. Generally, by itself gray market is not an illegal domain, and neither the productspurchased. However, it is highly unregulated and this it can lead to concerns for customers who buygoods from the gray market channels.For the consumers who are expecting authentic products and authentic manufacturer’s warranty willbe upset by gray market sales. Owing to the fact that is it disorganized and the channels are notapproved by original manufacturers there is a chance of faulty goods or duplicated goods enteringthe market. This in turn results in customer dissatisfaction and loss of original brand reputation.There have been cases where the products sold in gray market sales are outdated or old, no moreinto use or have crossed their expiry date that have affected the consumers. This has an acute anddangerous effect when it comes to the pharmaceutical industry with medicines being sold even aftertheir expiry date. All these put together results in health hazards, monetary loss and loss ofconsumer goodwill.
  • 2. How to combat Gray Market salesToday service providers specializing in enterprise risk management has come up with innovativesolutions to combat gray market sales, that also helps you to retrieve the lost brand image andmarket share by making the value chains tighter. These companies have set up an advanced webmining and reporting technology that provides enterprise visibility beyond the supply chain. Thesolution also provides a prioritized actionable data against any kind of fraud practices. The solutionenables end users to halt counterfeits and gray market sales and can also monitor a wide selection ofsources globally that includes B2B sites, auctions, and gray market emails and many more. Themoment a fraudulent activity is detected, the supply data are prioritized and analyzed within thesolution and offered to take the necessary actions.Read More About: Counterfeiting, Brand Management, Anti-Counterfeiting