Remember Xu Ting, the Chinese woman who, along with her family members, was sued for counterfeiting millions of dollars worth of luxury products? The story of this successful con that ripped off big brands like Gucci, Balenciaga, and Yves Saint Laurent might amuse some readers. However, not many of us know that counterfeit goods cost the U.S economy losses that range from $225 billion to $600 billion every year.

A recent survey sponsored by Bayer revealed that 66% of Americans are seriously concerned that about 29% of products manufactured and sold in the United States are fake. In fact, the majority of the participants believe the issue is worse now than it was three years ago.

From fake designer perfumes to bogus medication, the counterfeiting business is one of the largest underground industries — and it is thriving.

The Real Dangers of Fake Goods

When Americans think of counterfeit goods, they think of unrealistic scenarios that affect only the fashion or art industry. However, most people don’t realize that counterfeit goods have also snuck their way into pharmaceutical, automotive, aerospace, and electronics industries. Although the risks posed by sham products aren’t always apparent to consumers, they can have grave health and safety consequences.

Safety Risks

When it comes to buying electronic goods, many Americans are more concerned with paying the lowest price while ignoring the harmful effects fake products can have on their safety. Counterfeit iPhone chargers and poorly made batteries have resulted in explosions and electrocution, resulting in serious injuries. Fake products also affect businesses as they can hurt a business’s reputation, lose profit as well as increase its price.

Health Risks

Since counterfeit medications are not subject to regulatory authorities like the FDA, their consumption can result in life-threatening health risks. Around 10% of the world’s medicines are counterfeited. This includes high-end lifestyle drugs that reduce fat or life-saving anti-carcinogenic and antibiotics. Imagine the harm it can cause to patients who consume these drugs to manage their condition and relieve pain.

Years ago, counterfeit medication could be detected via careful observation or reading the labels. Irregularity in appearance caused due to the carelessness on the part of the counterfeiters would give away the con. However, they have now become much more sophisticated and chemical analysis is the only way to find if a drug is genuine or not.

Economic Risks

Not only do counterfeit products cause health and safety issues for humans but they also result in significant cost to the economy. The Organization for Economic Co-Operation and Development has estimated that fake products will result in the loss of up to 5.4 million jobs by 2022. Moreover, the proceeds from the fake goods are more often than not used to fund terrorist organizations and crime syndicates.

How Can Americans Be Aware of Counterfeit Products

It is getting increasingly difficult to distinguish counterfeit products from real ones as these criminals go to great lengths to make sure their product closely resembles the original. However, fighting trade of counterfeit goods is very important.

For Consumers: Consumers can watch out for ridiculously low prices that seem too good to be true — because they probably are. If buying products online, consumers should check out the designer’s website for the list of authorized dealers and buy only from them. Some other red flags include misspelled names of the brand, unusual designs, and unknown factory outlets.

For Brands and Manufacturers: Brands should make sure they have a very secure and transparent distribution network. They should have a mechanism in place for reporting counterfeit goods on their website as well as a comprehensive “cease and desist” policy to ward off counterfeiters. They should also monitor authorized retailers who sell their products as even they resort to selling counterfeit products sometimes.

People have a duty to cooperate with regulatory authorities and verify the authenticity of their purchased products. If people refuse to buy bogus products at cheaper prices, these counterfeiters will suffer losses and may even disappear with time.

Back in the day, “Captain Planet and the Planeteers” taught little boys and girls about the importance of environmental awareness and sustainable living. Now, these millennials are all grown up — and they are finally able to give back to the planet.

A recent Trends Tracker report indicated that though green and eco-friendly products are pricier than ever, doling out extra cash is not scaring consumers away.

According to the new report, about one-third of consumers say that they prefer eco-friendly options while 50% say they are against GMO foods.

Millennials Are Happy To Buy Less Stuff, But With More Green Value

This survey confirms a 2015 Nielson report that indicated changes in buying behaviors. The report claimed that consumers are now happy to pay extra for sustainable and eco-friendly products. In fact, more and more people, especially millennials, are willing to sacrifice quantity for quality; they are buying less stuff, but with more environmental value. This is in spite of the fact that millennials are now living in one of the toughest economic conditions that have been witnessed in the past century.

The Heart of the Matter

A huge part of the reason is emotions. Nowadays, people, especially young individuals don’t just want to buy a product; they want to buy a lifestyle that aligns with their values. Millennials are now becoming much wiser and more risk-averse when it comes to spending their money. With difficult job markets and budget constraints, millennials spend their money more carefully than the generation before them and are buying fewer material things. However, when they do purchase, they are increasingly leaning towards buying eco-friendly products, though they may be more expensive. These people would first go to brands that advocate pro-animal messages, sell chemical-free products and implement ethical and sustainable business practices.

When browsing the shelves at Sephora, young women are now first considering whether a brand is cruelty-free, not how pretty the shade of the lip gloss is. They are asking questions about how biodegradable the packaging of their eye makeup palette is and whether the ingredients in their foundation are harming the planet. Young, newly married couples are now considering buying energy efficient lightings for their new home, not because they would decrease their electricity bill, but because they would result in lesser emission of greenhouse gases. In fact, people with mountains of money are choosing to spend it smartly, say, to buy a hybrid/electric car, rather than one that runs on gas.

More and more people are increasingly saying they use and dispose of products in ways that achieve the intended benefit for the environment.

Deep Roots

A report by Stanford University revealed that about 90% of CEOs believe that sustainable practices should be the future of the business world. These entrepreneurs have taken steps to ensure this by developing sustainable and green products and services, taking out sustainability reports and creating new positions like Chief Sustainability Officer and Climate Change Analyst.

In fact, the trend seems to spring from business schools; 88% of which believe that businesses should prioritize social responsibility and environmental considerations. Moreover, fresh entrepreneurs are positioning their brands around the ecosystem. This has given rise to a number of positive start-ups that are focused on green, recycled and sustainable products and services.

It is clear that consumers now prefer eco-friendly brands. However, businesses should focus more on bringing the proper message to their consumers, so that they understand what their brand is trying to achieve by going green. Otherwise, their consumers may end up buying from their competitors that might not care about the environment at all. It is now time to live clean and keep it green.