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Jewellery sector’s Inspiring Independents 2023 - the top 100 independent jewellery and watch retailers - recognised by the industry

18 Jul 2023

Industry magazine Retail Jeweller’s list of Inspiring Independents 2023 - the top 100 independent jewellery and watch retailers from across the UK and Ireland, as voted... Read more…

Family-run jewellers celebrates its centenary by giving back to the community.

17 Jul 2023

A family-run jewellers in Kendal, which reaches its centenary this year, is putting giving back to the community at the heart of its celebrations.
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Independent retailer wins judicial review case over deposit return scheme.

4 Jul 2023

Independent convenience retailer Abdul Majid has won a judicial review case against Circularity Scotland, which was appointed by the Scottish government in 2021 to administer Scotland’s... Read more…

Asics reported to have halted supplies to UK independent sports shops.

4 Jul 2023

The Guardian has reported independent sports retailers saying their businesses are under threat after Asics said it was cutting off supply to hundreds of small UK outlets, joining Nike and... Read more…

Half of young European consumers find it acceptable to buy fakes.

4 Jul 2023

A new study on the perception of consumers towards intellectual property published by the European Union Intellectual Property Office (EUIPO) has found that although 80% of Europeans believe... Read more…

Elmy Cycles featured in Daily Express ahead of Independents’ Day weekend.

29 Jun 2023

With this Saturday and Sunday marking Independents’ Day weekend, the culmination of the annual campaign to promote independent retailers around the UK, ACT member Elmy Cycles in Ipswich... Read more…

“AI has the potential to revolutionise the way retailers operate,” says Theo Paphitis

28 Jun 2023

Former Dragon Theo Paphitis has predicted retail will be revolutionised by AI technology.
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The Association of Convenience Stores publish their Crime Report of 2023

23 Jun 2023

The report estimates that there were over 1.1m incidents of theft reported last year. The most commonly stolen items as reported by retailers are meat, alcohol and confectionery –... Read more…

How fine food retail can be part of the solution to ultra-processed food

19 Jun 2023

Scientists and researchers have compelling data, showing ultra-processed food could be responsible for several health conditions – a recent piece in Speciality Food Magazine set out to... Read more…

PayPoint launches digital shopper marketing platform

19 Jun 2023

Retailers will be able to drive customer spend, digital media use, push new product development and increase sales and distribution, claims PayPoint, following the launch of a new digital... Read more…

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Half of young European consumers find it acceptable to buy fakes.

Posted on in Business News

A new study on the perception of consumers towards intellectual property published by the European Union Intellectual Property Office (EUIPO) has found that although 80% of Europeans believe criminal organisations are behind counterfeit products and that buying counterfeits ruins businesses and jobs, one in three Europeans (31%) still find it acceptable to purchase fake goods when the price for the original is too high, rising to half (50%) in the case of younger consumers aged 15-24.

Fake stamp

83% of respondents believe that it buying fakes supports unethical behaviour and two-thirds see it as a threat to health and safety and to the environment.

13% of Europeans reported having bought counterfeits intentionally in the last 12 months. This figure goes up to 26% for those aged 15 to 24, twice the EU average, while it drops to 6% in the 55-64 age group and below 5% among those aged 65 and older.

On a country level, the proportion of consumers that have intentionally purchased fakes varies from 24% in Bulgaria to 8% in Finland. Apart from Bulgaria, buying fakes intentionally is above the EU average in Spain (20%), Ireland (19%), Luxembourg (19%), and Romania (18%).

A lower price of original products remains the most mentioned reason (43%) to stop buying fakes. The risk of bad experiences (bad quality products for 27% of people, safety risks for 25%, and punishment for 21%) is also a key driver to stop consumers from buying fakes.

Uncertainty regarding authenticity is also on the rise. Nearly Four in 10 Europeans (39%) have wondered whether they have bought a counterfeit, while half of young people (52%) stated the same.

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