A Strategic Approach Using Governance, Risk and Compliance Model to Deal with Online Counterfeit Market
Authors: Ramakrishnan Raman, Dhanya Pramod
Journal: Journal of Theoretical and Applied Electronic Commerce Research
Publication date: 2017
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One significant aspect that attracts Indian online retail customer is buying products at ease & convenience at competitive prices. The India e-commerce growth story has been remarkable so far. Angel investors and venture capitalists immensely fund start-ups. The valuation game is keeping them lucrative. The growth of many e-commerce companies in the past five to six years has been impressive. Yet, the sale of counterfeit products and the online counterfeit market is a chronic problem for many industries, brands, and the government. It has been a challenge for many to deal with the online counterfeit market. In this paper, the authors have analyzed the factors that influence the online counterfeit market to flourish, the present policies, framework, and strategies available to deal with this threat of duplicate products in online shopping. The paper also attempts to understand if online shoppers in the age group of 20 to 30 years are aware of the online counterfeit market in India. The survey also analyzed if they know the counterfeit products in India, and the existing solutions to deal with the same. An attempt has been made to propose strategies based on online counterfeiting statistics to tackle the online counterfeit market issue. The authors have given a terminology for the online counterfeit market and also have created a Governance Risk Compliance model at all level to deal with online counterfeiting.