Apparel is the most counterfeited item according to a new report that found 54% of apparel items were suspected to be fake in the last 12 months followed by sneakers at 33%.
For the first time ever, StockX, an online market for sneakers, apparel, accessories, electronics and collectables says its platform has reported apparel as the product category most susceptible to counterfeiting.
StockX’s three-pronged approach to
verification combines human identification, expert knowledge and the latest
technology.
“In addition to being one of the marketplaces that has persistently
invested in fighting the proliferation of counterfeit products, we’re among the
only platforms in our space that routinely provides this level of market data
to our customers,” said StockX CEO Scott Cutler. “We know that trust is built
on transparency and consistent experiences, and we’re passionate about
delivering a best-in-class offering that empowers buyers and sellers to trade
what they love.”
StockX’s multifaceted verification process
is core to its customer experience. In the last year alone, StockX rejected
over 400,000 products — collectively valued at nearly $85m — because they did
not meet the company’s verification standards. This represents an increase of
around 100,000 products compared to the same period last year, when StockX
blocked roughly 300,000 items. There are several reasons why products don’t
make it through StockX’s verification process — these include things like
sizing inconsistencies, missing accessories, box damage, signs of previous
wear, or if the company suspects the item is fake.
For the first time, StockX offered a
breakdown of the product categories most susceptible to counterfeits. According
to the data, apparel and sneakers top the list, with apparel accounting for 54%
of suspected fake verification failures in the last year and sneakers
accounting for 33%.
The suspected fake products StockX
verification experts have seen most frequently in the last year include both
high price point items and more affordable options, proving that no product or
brand is safe from counterfeiting.
In the sneakers category, the number one
product was the adidas Yeezy Boost 350 V2 Zebra followed by the adidas Campus
00s Core Black (No. 2) and the Jordan 4 Retro Black Cat (2020) (No. 3).
Fear of God hoodies dominated the apparel
category for the second year, with the Fear of God Essentials Hoodie Light
Oatmeal taking the top spot.
By Just Style