GS1 Philippines, a leading organization on local barcode standards, teamed up with the Chamber of Cosmetics Industry of the Philippines (CCIP) to revolutionize product authenticity and visibility through a series of seminars.
The seminars, attended by representatives from various cosmetics companies, featured courses including tackling the latest trends and technologies in the global supply chain, the benefits of integrating legitimate and streamlined barcode system in their products and the global migration to 2D barcodes and how they can adapt to this push.
“The country’s cosmetic industry is worth over $1 billion, and demand continues to grow. At CCIP, we aim to enhance the industry’s global competitiveness by ensuring product authenticity, providing comprehensive product information, and combating counterfeit products, all of which are crucial for consumer confidence. We are working hand in hand with GS1 Philippines to continue realizing this commitment,” said former CCIP president and GS1 Philippines corporate secretary Anna Marie Anastacio.
The beauty and personal care market in the Philippines is projected to generate $6.47 billion in revenue in 2024, with an annual growth rate estimated at 1.32 percent until 2028. The cosmetics industry, however, faces significant challenges, including the prevalence of counterfeit products.
By adopting GS1 standards and leveraging barcode technology, cosmetics companies can ensure product authenticity, improve inventory management and strengthen consumer trust.
