By Hallie Engel
A new study from PricewaterhouseCoopers has revealed the purchase of counterfeit goods is increasingly considered acceptable.
Though 90% of participants in the study said they consider buying counterfeit items as "morally wrong," 53% admitted to having done so, primarily due to an inability to afford genuine goods.
Young people were shown as the most likely to buy counterfeit products, with 41% admitting to the purchase of fake designer accessories and apparel. People in Northern Ireland and London were also discovered as being the most likely to buy pirated items, whilst those in Scotland are the least likely. An increase in websites offering of knock-off goods is also believed responsible for their rising popularity.
Mark James, head of anti-counterfeiting at PricewaterhouseCoopers, stated to the press: "There is a cost. Companies are having their reputations, their brands and their revenues stolen and that has a knock-on effect on jobs."
The purchase of counterfeit products is estimated to cost the UK economy £1.3 annually.