Key Highlights:
- Meta Platform is struggling with counterfeit goods spreading across its social media apps.
- Facebook and Instagram have become the key marketplaces for counterfeit goods.
- Meta removed 1.2 million pieces of counterfeit Facebook content.
Meta Platform has been struggling with counterfeiters spreading fake luxury goods like Louis Vuitton, Gucci, and Chanel across their social media platforms. Facebook and Instagram have emerged as hot spots for such counterfeit offenders.
Social media and private messaging tools make it easy for such counterfeit offenders to reach more users. The counterfeit market has shifted from major e-commerce platforms year after year. Around a decade ago eBay was the hub for counterfeit goods then it shifted to Amazon five years ago and now is leveraging social media platforms like Facebook & Instagram.
Instagram & Facebook filled with fake imitations
A study conducted by social media analytics suggested that the counterfeiters are selling imitations of luxury brands like Chanel, Prada, Gucci, Fendi, and Louis Vuitton. (~source Reuters)
Meta’s widespread user shopping data could assist with ad targeting. But with the rise of counterfeiters, platforms are losing their legitimacy. Meta’s Director & Associate General Counsel for IP, Mark Fiore stated, “As commerce has become a strategic priority for the company and as we’ve been building new shopping experiences, we’ve recognized that we want to make sure those experiences are safe and trusted for brands and the users.”
Meta rising popularity and problems
According to recent data, Meta has reported having 3.59 million monthly users across its social media and study apps. Due to the rising complaints and misuse of the platform Meta launched a tool for brands to search and report counterfeits in posts, ads, or commerce features. These complaints are addressed within 24 hours.
Meta also stated that it has removed 1.2 million pieces of counterfeit Facebook content and around half a million from Instagram. The company also reported that it is removing 283 million pieces of Facebook content that violated counterfeit and copyright infringement rules and 3 million content pieces on Instagram.
