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Summary:

Despite the threat of online fraud, consumers are increasingly getting comfortable shopping online. ThreatMetrix and the Ponemon Institute did some consumer surveys and found that one-third of people said they plan on spending more online than they do in-store this year.

ThreatMetrix_Infographic_Fraud Threat

Despite the threat of online fraud, consumers are increasingly getting comfortable shopping online. ThreatMetrix, which provides a platform for preventing online fraud, and the Ponemon Institute, which researches data privacy and security, did some consumer surveys and found that one-third of the respondents said they plan on spending more online than they do in-store this year.

The willingness to shop doesn’t seem to be slowed down by worries about fraud, which are still significant. Almost three-fourths of respondents (72 percent) said they were “very concerned” or “concerned” about being a victim of online fraud, and 84 percent said they felt it was important for online payment services to protect them from fraud. The survey was conducted in August and polled 722 active Internet users.

“While consumers continue to show a preference for the convenience of shopping and browsing online, their concerns about becoming a victim of online fraud is also growing,” said Bert Rankin, VP of marketing, ThreatMetrix. “With mobile thrown into the shopping mix, which is even more apparent this year, consumers and retailers alike need to be well-equipped against fraudsters in every possible channel.”

Some highlights from the survey include:

  • 37 percent of shoppers will use a smartphone for holiday shopping, and 12 percent will use a tablet
  • 40 percent of Millennials believe fraud is lower when shopping on a smartphone or tablet
  • 32 percent of people have browsed a company’s Facebook page and then bought something on the company’s website
  • 20 percent have bought something directly through Facebook
  • 51 percent of respondents believe Google is more effective in combating fraud, compared to 26 percent for Facebook

Take a look at the infographic below:

  1. With the increase in internet and smartphone adoption, I am not surprised to see that more people are willing to shop online. What is more interesting to note here is the proliferation of smartphones and tablets, and these devices becoming almost equivalent in use for ecommerce as the desktop PC.

    Deepak
    http://www.olsup.com

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