RSS feed Get our RSS feed

News by Topic

BizReport : Ecommerce archives : December 19, 2014

Security concerns cause 23% of consumers to shop less online

The convenience and cost-saving of shopping online is a draw for many shoppers, but new research from information security firm NCC Group and IDG Research Services, reveals that there is a high level of concern among many consumers about online security issues.

by Helen Leggatt

Big names have been in the news suffering from data breaches and consumers are increasingly worried about online security, found NCC Group's research. Insights gleaned from 10,000 consumers in the U.S. and the U.K. reveal that, while most are comfortable heading online to make purchases, two-thirds (64%) believe they will fall victim to a security breach within the next year.

In fact, 62% said they are more concerned about online security now than they ever have been before.

Overall, more than three-quarters (77%) of all respondents said they do not feel safe while transacting online and some (23%) are actually shopping less online during the holiday season due to security concerns.

According to Rob Cotton, CEO of NCC Group, consumers believe the onus is on companies to compensate customers financially for their loss if they succumb to a security breach.

"Businesses now need to step up and make securing their customers' data a top priority," said Cotton. "The consequences of not doing so threaten the integrity and performance of businesses and the Internet as a whole."

Other key findings from the 'Trust in the Internet' survey include:

- Just 8% of consumers say they 'strongly agree' they are comfortable sharing financial details and completing financial transactions online;

- 56% of consumers said that in order to complete online transactions, they often must share information that they would normally not feel comfortable sharing online;

- 68% of consumers say they would be more likely to do business with companies within an online community made up of secure/safe websites, where only verified brands operate.

Image via Shutterstock

Tags: data protection, personal data, security breach

Subscribe to BizReport



Copyright © 1999- BizReport. All rights reserved.
Republication or redistribution of BizReport content is expressly prohibited without the prior written consent.
BizReport shall not be liable for any errors in the content, or for any actions taken in reliance thereon.