SINGAPORE, April 24, 2018 /PRNewswire/ --
DataWeave, a Competitive Intelligence as a Service provider for retailers and consumer brands, announced today the launch of its Counterfeit Products Detection solution, which enables consumer brands to discover and curb the presence of counterfeit products on e-commerce websites using AI-powered image and text analytics. The solution is the latest addition to the company's Brand Governance product suite.
"As online retailers and marketplaces aggressively add thousands of merchants on their platforms, unauthorized white labeling, listing fake products, and image theft have become persistent causes for concern," said Karthik Bettadapura, Co-founder and CEO at DataWeave. "In addition to creating consumer dissonance, counterfeit products are often sold cheap, which erodes the price perception carefully cultivated by the original brand manufacturer."
Counterfeits are observed across several product categories in e-commerce, such as electronics, apparel, footwear, and furniture. For certain categories like cosmetics, counterfeits can even be harmful to the consumer. While online retailers are torn between expanding their merchant ecosystem and enforcing merchant compliance, consumer brands feel compelled to track and report counterfeits themselves.
DataWeave's unique approach, which leverages its proprietary data aggregation platform and robust deep-learning models, involves analyzing the catalog images and content of millions of products across diverse product types, enabling e-commerce executives and brand managers of consumer brands to detect counterfeit products at an accuracy of over 95%. Fake products are identified by capturing minute discrepancies in catalog images and content, while unauthorized white labeling or image theft is spotted when the image of a product matches perfectly with the original brand's, but other catalog content details are dissimilar.
"Armed with relevant insights on counterfeit products, consumer brands can work with online retailers to crack down on defaulting merchants, protect their brand equity, and take appropriate measures to ensure only authentic products are sold online," said Karthik.
DataWeave's Brand Governance product suite also enables consumer brands to cut down on minimum advertised price (MAP) violations, track unauthorized merchants selling their products, and optimize the quality of their online catalog representation.
DataWeave provides Competitive Intelligence as a Service to retailers and consumer brands by aggregating and analyzing billions of unstructured data points from diverse sources of data on the Web. Powered by AI, the company's data products enable enterprises to better understand their competitive environment, optimize customer experience, and drive profitable growth.
For more information, visit http://www.dataweave.com .
Vice President, Partnerships & Marketing