Elliott Grant

Counterfeiting, diversion, and contamination of products are big, “burning platform” problems. The results of a recent Purchasing Magazine survey show that 42 percent of buyers consider counterfeiting a “serious problem,” and 44 percent report falling victim to counterfeiting. The Organization for Economic Co-operation and Development (OECD) estimates counterfeiting costs brand owners $200 billion annually. The food industry was hit hard by a series of recent contamination issues. The U.S. spinach market was down about 40 percent a year after E. coli killed three and sickened 200. A recent survey of U.S. households found that 88 percent of consumers would buy a traceable product