You probably know that a Barbie movie is coming. It’s hard to avoid seeing the promotion.
Every minute, 164 Barbie dolls are bought, mostly in the U.S., and Barbie is now a $1.7 billion toy brand. The estimated value of the Barbie brand has doubled since 2021.
Fraudsters Love Barbie Too
Fraudsters also know that Barbie is trending. James Zahn, Editor in Chief of toy industry trade publication Toy Book, said that counterfeit toys “continue to be a massive problem on a global scale.”
According to LatentView Analytics, counterfeit toys generated over $32 billion in revenue in the U.S. in 2019. LatentView says that a key driver of fake toy sales is online marketplaces and since their advent, “52% of toy brands have seen an increase in fake toys sold.”
In the EU, a majority of goods seized at the border are counterfeit from online trade and online shopping.
Zahn of Toy Book said, “Right now, I can go to most major third-party marketplace websites, including Amazon
AMZN
EXPR
Barbie fraud specifically is probably lower than other toy brands. Zahn says Barbie’s owner, Mattel, Inc. “is diligent in swatting them down as they pop up, but some companies are still foolish enough to try it. LatentView Analytics says the counterfeit rate online for Barbie is less than 0.1% compared to 3% of toys generally (by value).
Digital brand protection company BrandShield says Barbie-related searches have quintupled since earlier this year and that is driving criminal activity. The number of fake Barbie websites being registered every day has ranged from 150 to 200 since the first Barbie movie trailer was released seven months ago. Those sites have names like BarbieSale, Shop-Barbie, Barbie-sales, Barbieph and other related names.
As of publication, neither Mattel, Inc. or Ali Express parent company Alibaba had any comment. An Amazon spokesperson said (in part): “Amazon has a zero-tolerance policy for counterfeit products. We have proactive measures in place to prevent counterfeit products from being listed and continuously monitor our store. If we identify an issue, we act quickly to protect customers and brands, including removing counterfeit listings and blocking accounts.”
Yoav Keren, CEO of BrandShield, says an increasing number of scams generally are starting on social media, including sales of fake toys. But it’s not just about fake toys, other industries like medical/pharma, finance and other consumer products are all being targeted. LatentView Analytics says the most common consumer products sold by fraudsters are footwear, clothing, leather goods, electrical equipment and watches.
Keren says consumers are limited in how they can protect themselves but some steps are doable:
- Always make sure the domain name you’re visiting is the real brand without added letters, words or phrases.
- Be wary when you see spelling mistakes (although new AI tools make that a less common sign).
- If someone tries to move a conversation from social media to WhatsApp or another messenger app, it’s probably a scam.
Zahn of Toy Book says there’s one more sign consumers need to be wary of: “If the price looks too good to be true, you can probably expect a crummy knockoff.”
No one I spoke with had the silver bullet for identifying fraud. And most people talked about how AI is going to make it harder.
Over time, technology will make it easier to detect fraud. But for the foreseeable future, the best I was told is that using your common sense is the best protection. Stay safe.
Read the full article here