For instance, one of those interviewed had a counterfeit Louis Vuitton bag whose value she claimed was £40 (Howie). A real Louis Vuitton bag goes for no less than £1,900. Thus as Howie correctly points out, this particular customer was able to get something that resembled the real thing for a price "almost 50 times less than the price for a similar bag by the designer." It is also important to note that celebrities have not been left out on this one. Taylor Armstrong is one of those celebrities who have recently been on the news for all the wrong reasons -- owning a number of counterfeit bags. According to the Huffington Post, Taylor was found in possession of "several fake Birkin bags." It is instructive to note that Taylor has reportedly been undergoing serious financial challenges in recent times. The pressure to "fit-in" regardless of her financial situation could have informed her move to acquire the fake bags. As per the findings of my survey, most respondents were against the purchase of counterfeit goods. The fact that people still purchase such goods is a clear indicator that the pressure to fit-in is indeed much stronger. The majority of respondents in this particular case were also convinced that the fact that genuine goods were more expensive than counterfeit goods was one of the major reasons as to why people bought counterfeit goods. It is however important to note that apart from the factors I highlight above, there are a number of other factors that play an important role in inducing people to buy counterfeit goods. One such factor according to Ali is little respect for the law. In this case, individuals who do not respect the existing laws of the land which ban the purchase of counterfeit goods amongst other things are more likely than not to purchase counterfeit goods. Next, it is also possible that some of those who purchase counterfeit goods are just curious and hence out to experiment (Ali).

Counterfeits: What are the Consequences?

The top three counterfeited goods that find their way into the U.S. according to McIntyre are footwear, consumer electronics, and backpacks/wallets/handbags....

When it comes to counterfeiting, these are the products whose genuine versions in McIntyre's opinion lose the most cash. Others include but that are not limited to children's toys, pharmaceuticals, and watches. Over time, there has been sustained debate over the actual impact of counterfeit products on not only the economy but also on businesses and individual citizens. A study funded by the EU seems to have given counterfeit goods a clean bill of health. According to the study, "consumers benefit from the market for knock-off designer clothes at knock-down prices" (Howie). The study as the author further points out also came to the conclusion that the losses companies claim they experience as a result of the availability of counterfeit goods in the market are largely exaggerated. This is more so the case given that those who purchase counterfeit goods are not likely to purchase genuine goods under normal circumstances. It is also important to note that in the recent past, the quality of counterfeits available in the market has greatly improved (Howie). The safety risk posed by these products is therefore going down.
Works Cited

Ali, Haider. "Why People Buy Counterfeit Brands." Open Learn. The Open University, 14 Feb. 2008. Web. 5 May 2013 < http://www.open.edu/openlearn/society/the-law/criminology/why-people-buy-counterfeit-brands>

Howie, Michael. "Fake Goods are Fine, says EU Study." The Telegraph. The Telegraph Media Group Limited, 29 Aug. 2010. Web. 6 May 2013 < http://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/7969335/Fake-goods-are-fine-says-EU-study.html>

McIntyre, Douglas. "The 10 Most Counterfeited Products Sold in America." Daily Finance. AOL Money and Finance, 15 March 2011. Web. 6 May 2013 < http://www.dailyfinance.com/2011/03/14/the-10-most-counterfeited-products-sold-in-america/>

The Huffington Post. "Hermes Celebrates Bust of Counterfeit Birkin Ring Aided by Actual Employees." The Huffington Post. HuffPost Style, 15 June 2012. Web. 5 May 2013 < http://www.huffingtonpost.com/2012/06/15/hermes-birkins-fake-counterfeit-ring_n_1600620.html>