Be Wary
BOSTON, MA, December 24, 2008
/24-7PressRelease/ --
Are you thinking of buying a gift from the Facebook Marketplace or Shop-It widget from your social network user profile? A recent study released by OpSec Security, a global brand protection service provider, uncovers social networking sites as a new marketplace for uncontrolled sale, promotion and distribution of branded goods and their look-alike fakes.
Growth of Social Networks
Social network sites have grown by 25% worldwide over the last year, with Facebook alone growing by 153%. Many businesses have embraced the opportunity to cash in on the heavy user traffic that sites like Facebook, MySpace, Bebo and Hi5 attract on a daily basis.
As social networks have exploded in growth, they have increasingly provided Internet users with outlets to create an online presence and to share interests amongst peers. In addition, they facilitate communication pertaining to product feedback and consumer opinion. Trends indicate that online consumers will be more exposed to this feedback as they continue to take part in social networking on a daily basis. One study cites that over 60% of people are more likely to trust and use online reviews written by other consumers before making a purchase.
Rise of Social Commerce
It comes as no surprise then that a new form of online shopping, coined "social commerce", has emerged as the marriage of e-commerce and social networking. It is the phenomenon of consumers connecting online and leveraging user-generated content to drive their purchasing decisions.
New features such as third-party advertisements, widgets to enhance personal profiles and user interaction, and marketplaces to exchange goods have emerged over the last year on social networks. For example, the ShopIt widget enables users to post a real-time feed of their goods for sale directly on a blog, social network profile, email, Google homepage, and many other web channels. In addition, in May 2007, Facebook launched a marketplace that serves as a local community classified service.
nvestigating Social Networks
"We engage with the world's top brands everyday to ensure they are protected against unauthorized e-commerce and online brand abuse. In our study, we set out to investigate the changing landscape of these fast-growing and dynamic social media platforms. Our goal was to understand how consumers are changing their shopping and buying habits, what brand owners can learn from user-generated content, and whether or not brand abuse was occurring on social networks," said Jeffrey Unger, president, Brand Protection, OpSec Security.
The Potential for Brand Abuse
As with any user-generated e-commerce platform, brand owners have a harder time controlling the distribution of goods through authorized channels. In general, social networks are not well regulated or controlled. This scenario provides an opportunity for brand abuse and unauthorized sales. Online consumers would be wise to keep this in mind, and should be wary in checking the authenticity of products before making their purchases.
The OpSec study identified a number of cases of counterfeit sales, brand infringement, and brand abuse that are appearing on social network sites. As the busy holiday shopping season arrives, both consumers and brand owners should be wary of the goods and merchandise that are showcased on social networks and other Web 2.0 platforms. A heavily trafficked, largely uncontrolled network provides an attractive platform for brand abuse to occur.
Brand owners may want to consider monitoring online consumer sentiments to gather market intelligence on the availability, distribution, and pricing of counterfeit goods. They may also take the opportunity to liaise with social networking sites to establish polices and procedures that would ensure consumer buying safety.
About OpSecSecurity.com
In addition to online monitoring, OpSec Security offers the industry's most extensive service portfolio for integrated physical and digital brand protection. OpSec provides technologies, software and services to over 250 corporations across industry sectors and 50 governments worldwide. OpSec partners with global brand owners to combat the issues of counterfeiting, gray market diversion, unauthorized e-commerce, channel corruption, digital piracy, and online brand abuse. Further information on how to protect your brand both in the physical and digital worlds can be found at
www.opsecsecurity.com.
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