This page has been archived and commenting is disabled.
Over 40% Of Chinese Goods Sold Online Are Counterfeit
Following a recent report documenting the surge in empty malls littering China, many suggested that this is indicative of a shift to online shopping and migration to platforms such as Alibaba. That may well be the case, but unlike in the US where one is assured at least some quality control and has a rational expectation that what was ordered online is what will be delivered, in China the reality is far different.
According to China's official news agency, Xingua, more than 40% of goods sold online in China last year were either counterfeits or of bad quality, illustrating the extent of a problem that has bogged down the fast-growing online sector.
According to the report, which was delivered to China's top lawmakers on Monday, just under 59 percent of items sold online last year were "genuine or of good quality", Xinhua said as cited by Reuters.
China has been trying to shake off a notoriety for pirated and counterfeit goods, long a major headache for global brands targeting the Chinese market from iPhone maker Apple Inc to luxury retailer LVMH. Chinese e-commerce giant Alibaba Group has been lobbying to stay off a U.S. blacklist for fakes after coming under renewed pressure this year over suspected counterfeits sold on its shopping platforms.
As Reuters adds, the report called for "accelerated legislation in e-commerce, improved supervision and clarification of consumers' rights and sellers' responsibilities". It added these were needed due to the rapid emergence of online sales, which grew 40 percent last year to 2.8 trillion yuan ($441.84 billion).
China wants to boost protection for consumers online, where there is still a lot of uncertainty about how consumers can claim compensation or hold online vendors to account. The report added customer complaints about online orders hit 77,800 last year, a steep jump of 356.6 percent against 2013.
That said, the above is based on one key assumption: that the Chinese consumers continue to have substantial disposable income to spend - whether online or in bricks and mortar stores. That is challened by the latest data out of Hong Kong where as ISI Evercore reports October luxury sales plunged 23% Y/Y as the city that has historically been synonymous with opulence "is still losing out as a Chinese luxury shopping destination."
The data is modestly better on a 3-month average basis but at -12.1% Y/Y it still suggests there is a significant weakness with Chinese luxury consumption...
... which while not directly flowing through to total online sales, may explain why as we reported yesterday one of Apple's key Taiwanese suppliers, Pegatron, had halted hiring new workers citing "weak Apple sales."
So why is AAPL stock not sliding, and has instead pushed above its 200-DMA? Perhaps the hope that the latest rate cut by the PBOC and the surge in credit creation (as we reported last night, Chinese SOEs unexpectedly saw $1 trillion in new debt in September) and the ongoing gradual rebound in housing will lead to a local wealth effect offsetting the ongoing spending slump. It remains to be seen if the Chinese monetary plumbing is still functioning unlike that of the US where even JPM now admits that ZIRP has been a failure.
»
- 3820 reads
- Printer-friendly version
- Send to friend
- advertisements -
You want Rorex? Cartier? Omega?
Best price.
Come with me, sir!
No, no...you buy, you like!
Don't forget, the next time at Wal-Mart, make sure you're getting real spicy ass.
Imitation is the sincerest form of flattery.
Fuck you. Pay me.
Fuck you. Pay me.
Fuck you. Pay me.
Watch out for those Chinese BitCoins...
Shit, and I always thought is was "You touch, you buy!"
the customers need a service that reliably authenticates the products being bought.
that way, they can have confidence.
that way, they can engage more fully in the market.
hugs,
http://dtcc.com/clearing-services
Gallery of Chinese copies and misspellings of world brands:
http://izismile.com/2013/08/29/chinese_versions_of_popular_products_and_...
HeroZedge.com
http://www.engrish.com/
Have a tab of this site that's been open 3+ years.
Ohhh, you numma 10, GI!
hong kong rolex
I bought a Rorex, I've had it for ten years, I love it, Knock offs are good enough for me, buy a Rorex and if you like it you can get a loan and buy a 'Real Rolex' if that is how you want to spend your money.
I have a rolex submariner I bought in their Beverly Hills store and it's still crap - inaccurate, falls off if you swim with it and the glasss shattered after falling down from my nightstand (about a ft high). I think it cost 600 or 800 Euros to fix. Also a friend who works for Rolex HQ in Switzerland could not tell if it was real or fake after a few minutes of examininng it. It's the dumbest stupidity tax I have ever paid
When the dollar (or yuan) is your God...
Goods may be counterfeit, but the prices are so good:
Fake Apple 'iPhone 6' devices are ALREADY on sale: Cloned devices appear on Chinese sites before the phone officially launcheshttp://www.dailymail.co.uk/sciencetech/article-2691980/Fake-Apple-iPhone...
Hard to resist the Fleabayetysy "Genuine" stuff for 10% [or less] of the list price since most of the authentic stuff is made in China anyway.
However, I am 100% sure my brand new $22 Armani suit is 100% genuine. They said so in their listing so it has to be. I just need to iron some the wrinkles out since it came in a 4x5 inch envelope.
Just stick it in a bowl of water, and ta-da - you gots a brand-name ready-to-roll suit.
I would no tbe surprised if it was the same or better quality than the 'original'
only 40%?
Chinese toothpaste kills more people each week than gunfire.
Sure, but the majority of the remaining 60% are fortified with asbestos.
And 200% of the RDA of formaldehyde
melamine, good for night vision, you buy two
One for each eye, of course, hehehe!
The larger the state and its control, the smaller is civil society and the the social contract. The larger the state, the less trust people have in society. Mao went destroyed civil society outside the control of the Communist party, and while Deng stopped the political radicalism, he kept the apparatus of massive government and the ideology of materialism.
ebay is loaded with bootleg everything from china, bought an item from a guy in china and got my money back, the shipping back to china must have cost him a fortune.
Amazon, too!
Make sure to get the real $238 ($332 with Tritium) Dueck Defense 45 BUIS from SureFire. They are absolutely worth it.
The fake Chinese ones for $21 on Amazon look like they are the same, but are total shit, and didn't even survive the mounting process when I tried them.
If you have a magnified optic on your rifle, then watch this video:
All Amazon has to do to cut 99% of the fake crap out is not allow shipping from China. Probably 99% of it is some sort of knockoff even if it is "real." OK, they may sneak the other 1% in via another country or even first ship it to the USA but it could be harder and more expensive for them.
LOL Then 99% of Amazon goods would dissapear from their website!
This is what happens when a culture rewards imitation to the same magnitude as innovation.
"Branding is product."
That's the thing about knockoffs vs genuine goods. Since 99% of everything we buy is from Asia and is manufactured by the very same factories, most of the time there is no difference anymore between a copy and the real thing. Goods manufacturers often do nothing but slap their brand on a no-name item that they like and secure production rights. That, however, does not stop the factory owners from pumping out extra units at their own discretion to make a few extra bucks on the side.
I'm into photography and I bought Canon gear from Canon and from no-name Chinese shops. They are 100% identical. Same molds, same position of registration marks, same material, same everything. Price difference - 1/10. One item has a rolled on label, the other one does not.
Hey, people like a deal.
Waddayougonnado?
we don't really have any innovation apart from profiting from fearmongering and addictions (sugar, GMOs etc)
They sure do a good job!
We have a counterfeit Democracy...so stop complaining.
So do they. Your point?
they are much more honest about it and don't pretend to have democracy and freedom
https://www.youtube.com/watch?v=tIvgSc3BEa0
Chinese consumers know what to expect when they pay less than 10% of the store price of luxury goods
So do US consumers when they go to Harbor Freight. :^)
Anybody remember that margerine ad "It's not nice to fool Mother Nature"?
Can anyone explain why it keeps popping into mind when I read these articles about China?
Should be "Armed with Hatchet"
look, the US gave China MOST FAVORED NATION status in what, 1998?
I couldn't be more PLEASED with the quality of goods from China that I buy from ebay.
Face it, from boots to speakers to everything computers to sports gear, it's made in China - they get free shipping to us - it costs me more to mail something across town than it costs "free" most items from China. Also, their customer service has been very friendly, eager to please and competent in English.
- and the pricing and quality keeps getting better.
The price is the real price, this is what it is really worth, if it 'looks' real it is real, seeing is believing! Right?
Alibaba is full of fakes, but there are quite a few being pushed on eBay and even Amazon as well... sometimes I feel like these companies actually don't want to kick out the sellers of crap off their platforms as that means less traffic... it's also clear that there's a group of folks who want to buy fakes, i.e. are fully aware of what they're buying... but that's another issue, often rooted in the lack of means to buy the real thing. Another more alarming issue is that some fakes have become so good that they're virtually impossible to identify. For example, I've read reviews of Spyderco knockoffs that some are saying are even better than the real thing, LMAO.
Name Brand = Max profit margin for Brand-name Co.
No-Name/Generic Brand = small but additional profits for Name-brand
Fake - Brand = No profit for Name-brand.
The "Quality" level may be a factor, but is probably a pretext for smaller profits and market share.
In the end, let the consumer decide what price and quality level they want to pay for. All you need to warn them is "Caveat Emptor!"
Exactly. I don't mind trying some of the 10% stuff as long as they have a "robust" return policy.
Hey I'd like to return these break pads, the face pealed right off them and I died in a flaming crash. Oh wait!
*Brake
Possible subtle play on words.
How many infants did the Chicoms kill with melamine in the baby formula?
When I lived in India in the early 90's, a very popular ice cream brand was busted for putting white, lead paint in their vanilla ice cream (that was widely consumed, especially by kids).
Say Hi to Steve Jobs.
I've been using the cheapest plant-based laundry detergent (and only about 1/8 of the amount recommanded) and it washes as well as if I use the most expensive brand name (in the amount they recommend). I've tested this theory many times with most brands. Even the Dollar Store version works as well (in much smaller amounts)
I bet 90% of the cheap shit is pushed through Ebay.
Discount melamine!
As long as the Chinese does not copy the US-democracy wich would mean WWIII.
My sell my soul idea? Start a complaint hot line service. Charge 3$ per minute to people calling in. Listen to them snivel and act like I want to help resolve the issue at first. But the real goal is just keep the meter running. If I could get the phone # put on the packeges it would be great fun.
How is my driving stickers on the cop cars?
Tell us all about your cat hotline?
Problem with your bong hotline? Just set up a loop of questions. No answers just more questions.
Gee, I hate to think of all the money robbed from Ralph Lauren, Prada, Rolex. etc., etc., ad nauseum.
Also, I have a feeling it is a higher %.
Dude please...
They are selling fake baby food which is killing babies.
They are selling fake cancer drugs that are killing people.
They are selling fake anti-malaria medication that is killing people.
They are selling fake titanium aircraft parts that can/will fail on a jetliner.
Should we go on?
can they counterfeit gold like the US
YES AND THEY ARE DOING A SHIT TON OF BUSINESS!
Gold either physical or paper can't be trusted. No gold can be trusted anymore.
---
One Troy ounce Warking Liberty tungsten gold plated American eagle coin
http://www.alibaba.com/product-detail/One-Troy-ounce-Warking-Liberty-tun...
Duh!? !? why do you think i shopped at aliexpress??
This is the latest one counterfeit product.
https://www.rt.com/business/320146-china-iphone-fake-replica/
There are alot of "fakers" in China online. However, there are a lot of very good suppliers also. All of my subordinates bought online from china. I encourage them. There's website that rooted out the bad one. It's from members to members info. Don't bother to gives you links, cause it isn't in your languange but mine.
My friends baought the top end of iphones, galaxy s6/s6-edges, lg top of the line from there. at between 1/3rd to 1/4th of the price. It's genuine products. And i can put cyanogenmod roms on it (for the androids type. for apple? they come already unlocked if you asked them). GPS with local maps (you tell them which languange/maps you want to have in it. The supplier does this for you. Although they said their unit came w/o maps preinstalled).
It's nice, fun, and easy to do this on many china online. I just instruct my man to order it for me (he than paid it using his paypals.)
Many drugs made in China. Even when the box still said "made in EU countries/USA". Bull!! I can get you a genuine viagra at 1/4th your price, in its original cardbox, with original genuine 3D holograms.
However, there is a LOT of worse counterfeiter in China? Of course!! They got 1.6 Billion people, trying to makes daily end's need. I'm not trying to kid you..