Why Are People Afraid of E-Commerce?

WHY ARE PEOPLE AFRAID OF E-COMMERCE? 14% As U.S. e-commerce sales rise to $39,707,000,000 in Q2, 14 percent growth from same quarter a year ago, online shoppers still have high fears and anxiety when placing an order online. THE TOP E-COMMERCE FEARS: FEAR OF CREDIT CARD INFORMATION BEING STOLEN As cases of credit card fraud and identity theft rise each year, online customers have vaild reasons for being concerned that their information may be stolen. VISA IT'S NOT A "REAL" STORE YOU'LL SELL MY INFORMATION Purchasing items in a virtual shopping cart that has no physical address or location creates an uneasy feeling with the possibility that their item may not exist. A common fear is that once information is given for a purchase online, a bombarding of solicitation emails, catalogs, and offers from third partics will be sent. FRIM SIESOIONINO TO IIES NOW YOU CAN BUY IT BEFORE ANYONE! I CAN'T TELL WHAT THE PRODUCT IS REALLY LIKE NOT BEING ABLE TO TRACK ORDERS Many shoppers rely on the sensory aspect of shopping and because they can't feel, touch, or even smell the product they become afraid of purchasing the wrong item. The ability to track orders is becoming more popular among c-commerce retailers and shoppers fears of losing an order and never seeing it again is common when a tracking service is not provided. ORDER STATUS FOR #250551: SHIPPED NEEDING HELP FROM A SALESPERSON IF I DON'T LIKE IT, I'LL BE STUCK WITH IT The idea of buying online is a one-sided chore and a common fear is that without the aid of a knowledgable salesperson the product might not be a good fit, leading us to the next fear. Without a 100% satisfaction guarantee, many shoppers are afraid of not having the ability to return a bought item or if it is not what they were looking for, have to pay sky-high shipping fees on a returnable item. ATTITUDES ABOUT ONLINE SHOPPING: 7 TIPS TO LOWER ONLINE SHOPPING by household income FEARS AND ANXIETIES: Consumers that say they don't like giving their credit card number or personal information online. In 2009, more than 92 million people made online purchases using credit cards, debit cards, and services such as PayPal and Google Checkout. Consumers that say they prefer to see the things they buy before they buy them. An important tool when online shopping is to double check that the URL and starts with "https" versus "http". 44% LESS THAN $25K 39% BETWEEN 32% $25K-$40K 24% Avoid clicking on pop-ups or warnings that indicate something is wrong with a site's SSL certificate. BETWEEN $40K-$60K 36% 32% To settle those fears more, check the address bar for green or the owner's name written in green. This indicates a site that has an extended validation SSL certificate. 35% BETWEEN $60K-$100K 26% GREATER THAN $100K 25% 22% Getting rid of malware will avoid possible attempts of hackers using software to capture key stokes and screen images. E-COMMERCE FRAUD: Avoiding opening many tabs at the same time on a web browser will take away the risk of tab napping, which refers to a hacker who has the ability to steal banking information off browsers with many tabs open. Are people's fears subsiding or is online security growing? ONLINE MERCHANT'S WHOSE SALES AND ORDERS WERE LOST DUE TO FRAUD 4.0 billion Manage passwords by storing sensitive data on a management software that allows for entering information onto online forms without having to retype it each time. 8 3.7 billion 3.3 billion 3.1 billion 28 billion Consider one-time credit card numbers which can give additional extra protection. 2.6 billion 5 2.1 billion 4 1.5 billion 1.9 billion 1.7 billion 3 1 V $#@! SOURCES: www.census.gov I www.blueacorn.com I Pew Internet & American Life Project Survey I www.startribune.com I CyberSource. Site JABBER 2003