Counterfeit consumer good

Counterfeit consumer goods, sometimes known as Knock-offs, are goods illegally made or sold without the brand owner's authorization, often violating trademarks. Counterfeit goods can be found in nearly every industry, from luxury products like designer handbags and watches to everyday goods like electronics and medications. Typically of lower quality, counterfeit goods may pose health and safety risks.

Various organizations have attempted to estimate the size of the global counterfeit market. According to the OECD, counterfeit goods made up approximately 2.5% of global trade in 2019, with an estimated value of $464 billion. Sales of counterfeit and pirated goods are projected to reach €1.67 trillion (approximately $1.89 trillion USD) by 2030.

Despite the illegality of counterfeit items, many counterfeit items, especially fashion items such as handbags, watches, shoes and sports jerseys, are widely sold in many regions and are purchased by both locals and tourists, typically at markets in Africa, Asia, Latin America and in major cities in Australia.

A counterfeit consumer good is a product, often of lower quality, that is manufactured or sold without the authorization of the brand owner, using the brand's name, logo, or trademark. These products closely resemble the authentic products, misleading consumers into thinking they are genuine. Pirated goods are reproductions of copyrighted products used without permission, such as music, movies or software. Exact definitions depend on the laws of various countries.

The colloquial terms dupe (duplicate) or knockoff are often used interchangeably with counterfeit, although their legal meanings are not identical. Dupe products are those that copy or imitate the physical appearance of other products but do not copy the brand name or logo of a trademark.

Sellers of counterfeit goods may infringe on either the trademark, patent or copyright of the brand owner by passing off their goods as made by the brand owner. Counterfeit products made up an estimated 2.5% of world trade in 2019. Up to 5.8% of goods imported into the European Union in 2019 were counterfeit, according to the OECD. In 2018, Forbes reported that counterfeiting had become the largest criminal enterprise in the world. Sales of counterfeit and pirated goods are estimated to reach €1.67 trillion (approximately $1.89 trillion USD) by 2030.

Although counterfeit and pirated goods originate from many economies worldwide, China remains the main source of origin. According to The Counterfeit Report, "China produces 80% of the world's counterfeits and we're supporting China. Whether or not it's their intention to completely undermine and destroy the U.S. economy, we [in the United States] buy about 60% to 80% of the products." It states:

Companies spend millions or billions of dollars building brands, and building reputations and they're being completely destroyed by Chinese counterfeits. And when you take that across a universe of goods, Americans' confidence in their own products is nonexistent. Retailers, the malls, the retail stores are closing up, and we're becoming a duopoly of Walmart and Amazon.