A real-world insight into how to deal with counterfeit products and other associated risks with social media
Social media has become the fastest route to reach consumers and influence their buying decisions online. Views for videos in the beauty and personal care categories on YouTube for instance are up 65 percent year-on-year – garnering a total of 222 billion views annually.
Facebook meanwhile has opened up links to powerful peer recommendations from family and friends and Instagram’s platform is perfect for the thriving influencer market. However, social media doesn’t come without risk.
The growth in the cosmetics market has gone hand-in-hand with an increase in counterfeiting, which some associations have quantified as a rise of at least 264% from one year to the next. Not only does this impact on revenues, it leads to a rise in negative reviews as fake goods are mistaken for the real deal, which leads to a double impact on the bottom line.
Online activist campaigns against brands is another risk area for brands’ reputations. Nor does social media have borders, which can lead to supply chain issues and regulatory compliance. Even basic issues, such as customer service have changed with the uptake of social media as customers expect to be acknowledged and responded to immediately.
This year, at the Cosmetics Business Regulatory Summit, Emma Monks, Head of Trust & Safety at Crisp Thinking will cover the main risks that cosmetics brands face on social media – from spotting sellers of counterfeit goods to dealing with fake reviews to spotting supply chain issues to managing customer complaints and feedback.
Emma will share with delegates market data on the latest trends in this sector, together with real-world examples of the problems cosmetics brands are facing. She will also demonstrate how to find the ‘bad actors’ who are driving these issues as well as top tips on what you can do to protect your reputation and revenues online.
Ensure your business is compliant with current regulations, gain a greater competitive edge and develop trust with consumers, visit regulatorysummit.com to secure your place today!
For more information about this year's Cosmetics Business Regulatory Summit please visit regulatorysummit.com or contact firstname.lastname@example.org.