The economic downturn has not affected the way consumers shop online, according to a study released by McAfee.
According to the research, conducted by Harris Interactive, 72% of consumers said the economy has not changed the way they shop online, rather fears about online security and personal information have affected their shopping habits. Nearly half of consumers have terminated orders or abandoned their shopping carts due to security fears. Even in an attempt to get a good deal, 63% won’t purchase from a web site that does not display a trustmark or security policy.
Tim Dowling, vice president of McAfee’s web security group, said: “Online retailers need to understand that consumers with intent to purchase are terminating their orders because they don’t feel safe online.
Our research suggests that economic concerns and price have not affected the way people shop online, but instead security concerns are the driving force behind whether a transaction is completed or terminated. All web sites, regardless of size, need to take measures to prove to customers that their personal information will be safe and secure when doing business online.”
The research revealed that one in five consumers refuse to purchase from a site that does not display a trustmark. To assuage consumer fears, e-tailers can prove their security measures and build trust with consumers by displaying a trustmark; in fact, about 60% of consumers feel safer when shopping on sites with a trustmark.
The study also showed that, while all online retailers, regardless of size, need to demonstrate their security measures to customers, trustmarks can be a particularly important tool for smaller companies to equalise against their larger competitors. More than 90% of consumers are concerned about their security when shopping on new or unknown web sites, and 47% of consumers look for trustmarks to feel safe when shopping on a lesser known site.
