For this week's column, I'd like to share an important article from the U.S. Chamber of Commerce on an important topic that effects much of our community --- back to school shopping --- and remember to do it by shopping local!
Thanks, JR
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Making The Grade: Avoid Fake And Counterfeit Goods When Back-To-School Shopping
Before the first bell of the new school year rings, students, teachers, and families are on the hunt for great deals for back-to-school essentials - but so are counterfeiters looking for their next target.
Each year law enforcement intercepts billions of dollars’ worth of counterfeit products, some of which are popular back-to-school items. Yet, despite their best efforts, fake goods slip through, endangering unsuspecting consumers and posing serious threats to the global economy.
Too big to ignore: Valued at $500 billion, the counterfeit market costs the global economy 2.5 million jobs lost each year. In August 2022, U.S. Customs and Border Protection (CBP) intercepted 17,000 counterfeit items worth $2.4 billion. This nefarious trade harms consumers and businesses of all sizes and supports human rights abuses such as terrorism and child labor.
Fake goods, real dangers: Since counterfeit goods don't follow manufacturers' standards or regulatory testing, they can pose serious health risks. They may include exploding electronics, faulty bike helmets, toys with hidden choking hazards, or everyday items like clothes and backpacks laden with harmful chemicals.
Losing your lunch money: Counterfeit goods jeopardize your financial health, too. Although most counterfeit goods won't cost you much at the point of purchase, they can have a long-lasting monetary impact. That's because many counterfeiters use their storefronts as a guise to steal credit card information and passwords to important online accounts, like online banking and email.
It's a group project: The businesses community and law enforcement are joining forces in the fight against fakes. This school year, the U.S. Chamber of Commerce, U.S. Customs and Border Protection, and Amazon are getting the word out on how consumers can protect themselves—and each other—with five tips to avoid getting scammed when shopping for back-to-school.
