Counterfeit products in economic crisis

What is it about?

This paper explores and explains consumer of Generation Y and upper-medium- and high-income class brackets - perspectives on the purchasing of counterfeit brands in times of economic stress – crisis. It tackles issues referring to counterfeiting as a phenomenon, their knowledge and perceptions, the impact of financial crisis on the expansion of counterfeiting and the financial crisis and counterfeit purchasing behavior. It indicated that consumers of this generation and income have different attitudes towards counterfeiting as well as the government’s role in counterfeit product expansion. Analysis identified four types of consumers.

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Why is it important?

This study fills gaps in the existing literature, as it deals with counterfeit purchasing behaviour in a period of economic crisis; it has as a sample, all the age range of Gen Y consumers, those in upper middle to high income brackets, and those who are highly educated and it deals with a country – Greece, that because of its economic crisis, has been the focus of international media attention. It also provides practical measures in reducing counterfeit purchase behaviour.