BOOTLEG PRODUCTS IMPACTS ON THE GHANAIAN MARKET POST COVID-19
Over the recent half-decade, there has been a concerning surge in the trade of counterfeit or fake goods, surpassing the sales of genuine, authentic products. This shift in consumer behavior is particularly evident in the statistics observed up to the year 2023, where the global expenditure on bootleg or counterfeit products has seen a remarkable uptick, registering an increase of $487.6 billion. This trend indicates a substantial and widespread preference for, or perhaps unwitting acceptance of, imitation products over their authentic counterparts, presenting challenges not only in terms of economic impact but also in issues related to intellectual property, consumer rights, and market integrity. Pricing is a main factor of purchasing bootleg products. The original price of a genuine Hermes bag can range from thousands to tens of thousands of dollars, while a fake one may be significantly cheaper. Most people prefer to buy bootleg products due to economic hardship because these p...