Counterfeiting is increasing at an alarming rate, costing more than $1.6T to the global market, and it is expected to reach $4.2T by 2022.
Most of the popular brands are facing the heat of this problem in terms of revenue loss and the dent in the brand’s reputation and have started taking it seriously.
Right now the market has been trying to solve this problem via traditional technologies such as holograms and unique labeling. But, due to low-cost digital printing and no way for users to authenticate the origin, these are failing badly.
Only a digital solution can solve the problem of this scale and complexity, as the solution must have a reasonable level of intelligence and conditional processing power. A right digital solution must be robust, secure and scalable.
For the solution to be really effective, it must be very economical for the legitimate brands and exponentially costly for counterfeiters, which is not the case with the traditional solutions.
NeuroTags is an enterprise solution platform for protection against counterfeiting and diversion.
We provide one of the world’s finest technology to bring the counterfeiting to a complete stop within a few weeks of deployment.
The backbone of our technology is AI monitored unique serialization and patent-pending dual tag technology, which not only eliminates the counterfeiting of physical goods but also enables brands to open personalized digital marketing channel with consumers to influence repeat commerce. Brands typically engage and incentivize consumers to become both their defender and advocate at the same time with the integrated Loyalty and Marketing automation engines.
How it works
The solution is straightforward and deployable in 3 weeks of time. NeuroTags provides brands mathematically coupled tags called NeuroTags codes that are to be applied to product packaging. Each tag contains two parts – Pre-purchase tag and Post-purchase tag. Each of the tag-couples is unique, so it gives a unique, secure and traceable identity to each product item.
Pre-purchase tag is open and can be scanned by anyone. This tag provides product authenticity information and product-related information before purchase.
Post-purchase tag is hidden by a scratch layer or kept inside the sealed product packaging. This tag is intended to be scanned by users only after the product purchase.
All product scans are continuously monitored by NeuroTags AI-backed cloud. Once a post-purchase tag is scanned, it is marked as sold. Any duplicate scans of a sold product’s pre or post-purchase tag notify the users about possible counterfeit if they are buying a new product.
Since the post-purchase tag is scanned by product buyers only, the scan of this tag provides brands an opportunity to onboard them through warranty and loyalty program registration. This way brands get to collect the first-party data of their customers which is very precious and helps in targeting the right people at the right moment.
NeuroTags is processing more than 15 million tags per year for some of the clients, and for a few of the potential clients in the pipeline from the beverage industry, NeuroTags looks to process more than 5 billion product items per year.
NeuroTags codes cater to following the critical needs of consumer brands-
NeuroTags Consumer Marketing Platform
NeuroTags provides a platform for consumer brands to economically acquire, manage and engage consumers from retail channels at scale. NeuroTags codes on products enable brands to acquire consumers from retail channels through integrated loyalty, warranty, and gaming engines. Online acquisition is enabled via landing pages, interactive forms, and APIs.
Some of the NeuroTags clients are seeing a participation rate of up to 75% through loyalty programs (with respect to the users who are scanning the post-purchase tags). Whereas through digital warranty, many brands are seeing customer participation of up to 80% for their higher-priced product items.
Supply chain visibility
NeuroTags provides economical and integrated end-to-end platform to cater to supply chain needs of consumer brands, with AI monitored serialization at the item, box, and pallet level.
Traceability solution also helps in preventing product diversion and tracking the product journey from the warehouse until the end consumers.
NeuroTags solutions are scalable to any number of product items and SKUs. And the brands can incrementally get different capabilities enabled as per their requirements, without requiring any change in the NeuroTags codes.
Future
The future is about digitization. After the digitization of production machines (IoT industry 4.0), it’s time for all the physical products to be digitized. Many brands have already started digitizing their products as it gives them a clear cut advantage to establish a lifelong connection with their consumers and add invaluable digital capabilities to influence their buyers.
NeuroTags makes this process extremely easy, participative, and fun for consumers and lets brands manage and effectively utilize the resulting data with advanced analytics and marketing automation tools.
