YPB Group is leading the way in smart phone consumer engagement with QR codes
\nCompany\u2019s ProtectCode sees first-party data opt-in rates of up to 35%
\nAuthentication and brand protection market to reach US$4.3 billion by 2028<\/p>\n
\u00a0<\/p>\n
Brands seek greater engagement with their end consumers, along with protection of their products from counterfeiting. One ASX company has the technology to achieve both. <\/strong>\u00a0<\/strong><\/p>\n YPB Group (ASX:YPB)<\/strong><\/a> develops and sells a suite of technologies covering physical anti-counterfeit solutions along with digital transfer technologies which trigger engagement between brands and consumers.<\/p>\n YPB Connect is the dashboard unifying the company\u2019s products giving brands access to a global view of their products from supply chain to end consumers in live time.<\/p>\n In focus YPB\u2019s proven, trademarked product ProtectCode can easily authenticate fast moving consumer good (FMCG) products, ID documents, pharmaceuticals, and more.<\/p>\n YPB founder, chairman and CEO John Houston says ProtectCode is also used to trigger engagement with end consumers using their smartphone to scan a QR code, known as ProtectCode.<\/p>\n He says brands can turn an invisible consumer into a visible one using the technology building not only trust but also gaining a ROI on their packaging spend.<\/p>\n \u201cThe benefit of our technology is it\u2019s smartphone readable, meaning any consumer with a mobile phone can engage with brands that use ProtectCode on their product packaging,\u201d he says.<\/p>\n \u201cThis enables consumers to verify the goods and engage with the brand, think of it like turning a brand\u2019s packaging into a mobile billboard.\u201d<\/p>\n \u00a0<\/strong><\/p>\n Progress of 3D printing, artificial intelligence (AI), and other rapidly advancing technologies is leading to a surge in counterfeiting activities and deceptive consumer interactions, causing significant harm to brands across various industries.<\/p>\n MarketsandMarkets<\/strong><\/a>\u00a0forecast the authentication and brand protection market to reach US$4.3 billion by 2028 from US$2.9 billion in 2023, at a CAGR of 8.3% during 2023-2028.<\/p>\n According to the\u00a0International Trademark Association<\/strong><\/a>\u00a0global sales of counterfeits are growing at 15% each year and reached more than US$1.82 trillion in 2020.<\/p>\n Houston says counterfeit is affecting a range of industries from luxury goods such as handbags and clothing to pharmaceuticals, electronic equipment and parts to name just a few affected.<\/p>\n In September airlines globally were caught up in a dangerous fake parts scandal, which YPB\u2019s technology could help solve.<\/a><\/p>\n \u201cFood and medical corporations are also actively striving to safeguard authenticity of their goods and specimens, guaranteeing clarity regarding their origins, ownership, and even optimal storage temperatures,\u201d Houston says.<\/p>\n \u00a0<\/p>\n Houston says QR codes, which rose to prominence during Covid-19, can be particularly useful for brands to understand consumer behaviour.<\/p>\n YPB\u2019s serialised, dynamic ProtectCode users recently reports ~42,000 scans per month, highlighting the widespread adoption of smart QR code technology.<\/p>\n Houston says the scans are not just a simple interaction but represent an opportunity for businesses to learn more about their customers and adapt their strategies accordingly.<\/p>\n \u201cWith YPB\u2019s serialised dynamic ProtectCode you can see the precise time, date and location of people scanning your products, all placed neatly on a global dashboard,\u201d he says.<\/p>\n \u201cAs consumer\u2019s don\u2019t need to opt-in to share this data, you can see exactly where your product is having the most impact and interaction.\u201d<\/p>\n Houston says while first-party data is invaluable, obtaining it can be challenging with consumers increasingly cautious about sharing their personal information due to concerns about privacy and data security.<\/p>\n \u201cOur QR codes (ProtectCode) provide a non-intrusive way for consumers to engage with businesses while maintaining control over the data they share,\u201d he says.<\/p>\n \u201cProtectCode has seen first-party data opt-in rates of up to 35%, showcasing the immense potential of the technology.\u201d<\/p>\n \u00a0<\/p>\n Houston says ProtectCode scan represents a data point that allows businesses to understand their consumers better, anticipate their needs, and deliver personalised experiences.<\/p>\n He says businesses can tailor their messaging to each country location, without changing the QR code on the packaging.<\/p>\n \u201cThis means someone scanning your product in Italy can receive a different landing page, in a different language to someone scanning in Australia,\u201d he says.<\/p>\n \u201cYou can also easily incorporate local customs or references, and use imagery that resonates with the local audience, boosting your opt-in rates and resales.<\/p>\n \u201cLeveraging the knowledge of where your products are most popular can be an asset for your marketing strategy. \u201c<\/p>\n \u00a0<\/strong><\/p>\n YPB was founded in 2011 and listed on the ASX in 2014. The company has been rebuilding in recent years with a new management team focusing on commercialising its technology with scalability based on feedback from industry partners.<\/p>\n \u201cWe\u2019ve always been ahead of our time in regard to the technology, but it\u2019s also required a heavily capital investment in rebuilding to be a market leader in the segment of consumer engagement and anti-counterfeit,\u201d Houston says.<\/p>\n \u201cWe\u2019ve closed non-performing business segments and focused on our core developed IP.<\/p>\n \u201cWe\u2019re confident going forward that YPB has never been in a better position with both its technology and leadership team to scale and head towards profitability, delivering value for shareholders.\u201d<\/p>\n \u00a0<\/p>\n This article was developed in collaboration with YPB Group , a Stockhead advertiser at the time of publishing. <\/em><\/p>\n This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.<\/em><\/p>\n <\/span><\/p>\n The post \u2018Immense potential\u2019: YPB is at the forefront of a US$2.3bn-and-growing anti-counterfeit tech market<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"Surge in counterfeit products<\/strong><\/h2>\n
Dynamic QR codes to learn consumer behaviour<\/strong><\/h2>\n
Ability to target messaging <\/strong>\u00a0<\/strong><\/h2>\n
Onwards and upwards for YPB<\/strong><\/h2>\n