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Kaleel Rahman - Why do the upper classes consume counterfeit luxury brands?

Description: 
The consumption of counterfeit luxury products is growing rapidly.

The global market for non-deceptive counterfeit goods, in which consumers know that they are buying the fakes, has grown rapidly over the past two decades. Estimated to be worth $585 billion in financial value, counterfeiting is considered a major threat to the wellbeing of consumers, the brand owners, governments and society at large. We examine why one group of wealthy Asian women (self identified as “Tai Tai’s”) consume counterfeit luxury brands. The findings allow us to address managerial concerns about counterfeits and we challenge the orthodox anti-counterfeiting argument that it poses considerable threat to the luxury brands.

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iTunes Category: 
Economics
Author: 
RMIT University
Keywords: 
counterfeit, luxury, goods, economics, research, rmit, university, retail