From sporting goods to luxury items to cosmetics, there a massive problem with counterfeiting. This 1.7 billion dollar problem is a weighty pain point in most verticals.
The health and safety consequences are serious, and misrepresentation of the brand image and quality is just the tip of the iceberg in terms of negative ramifications. On this week’s episode, we talk to Ross Mandel, CEO of VerifyItNow, about the business he built around finding a solution to this problem. We discuss the growth of VerifyitNow from brand protection to asset tracking to a lost and found platform, and the opportunities and limitations of the technology behind it - NFC, Bluetooth, and Google Nearby. Watch as Ross illustrates how you can “product your brand, reduce loss, increase customer confidence, and build brand loyalty” with their anti-counterfeit and verification system.