This is an interesting statistic from HBR. Check it out!
I have long been interested in this problem. It comes done to some basic questions:
- Why do some people pay more for branded products?
- Why do other people settle for copies of branded products?
- What type of person wears both branded and copied products?
Peer-pressure plays an important role here. I don’t buy the “inauthentic” argument. I think it’s political. For example, I know somebody who always wore branded products but economic necessity has caused her to turn to copies; she’s still happy because she thinks she’s getting away with it.
Perhaps, one of the biggest is issues with knock-offs or counterfeit consumer goods to give it it’s proper title is that most people do not think it is illegal. The market in knock-offs is now global, for example, with mass-tourism from East European countries to Southeast Asia.
What do you think of the “inauthentic” argument?