Report: Online shopping security top consumer concern this holiday season
Customers are expressing concern about their online shopping security this holiday season. This is a red flag for retailers as the world’s biggest online shopping day draws nearer, according to Computop poll results reported by ITProPortal.
Consumers have concerns about fraudulent charges on their cards and whether they would be on the hook for them, according to the poll, which surveyed 1,900 retail shoppers. According to a survey from TransUnion, 71 percent of consumers hacked from online shopping were hit during the holiday season, and 76 percent report heightened fear of identity theft during the holiday season compared to other times of the year.
“Despite the sustained interest in purchasing online, consumers continue to have significant concerns about the security of their personal information,” said Computop CEO Ralf Gladis.
Some key conclusions drawn from the report about consumers’ participation in online shopping during the upcoming holiday season and their concerns about online shopping security include:
- 76 percent of these customers plan to shop online during the holiday season.
- 62 percent, however, plan to abstain from shopping on Cyber Monday.
- 61 percent research policies about unauthorized charges and their potential liabilities with card payments.
- 74 percent worry about transmitting banking or credit card information online.
- 26 percent are concerned that biometric information like fingerprints might be copied and used in a malicious way online.
However, Gladis does not see these concerns translating into action, at least on the part of consumers.
“[These consumers] are not necessarily interested in taking extra steps to protect themselves,” said Gladis, “and in the case of the newer authentication technologies, we agree.”
Gladis recommended retailers across the industry address their current security challenges before introducing additional security technologies into the mix.
“Before moving forward with features like these, it’s critical as an industry that we are able to ensure this data is stored securely before we potentially open up a possible new area for identify theft,” he said.