According to a recent study, American shoppers are still hesitant when it comes to trusting retailers with their payment and personal information.
Performed by Bizrate Insights, the new study revealed that nearly two-thirds of buyers believe that retailers’ security protecting their valuable information within brick-and-mortar stores, websites and mobile commerce sites still “isn’t strong enough.”
Almost half of respondents (43 percent) expressed their concern was the result of previous reports of stolen information from retailers, such as the incidents at Target, Home Depot and Staples. Meanwhile, a significant percentage (17 percent) of consumers reported the lack of confidence came from a personal experience of data theft after a retailer was breached.
Furthermore, the survey findings also showed that consumers’ apprehension towards the security of retailers, whether from a personal experience or through frequent news reports, ultimately impacted their intentions to make future purchases:
Thirty-four percent of survey respondents answered they found themselves reluctant to make online purchases because of credit card and personal information thefts from retailers, while 29 percent admitted breaches may keep them from shopping at brick-and-mortar stores.
“No retailer is immune to some fall-out from credit card and personal information thefts that have been reported over the past year,” said Bizrate Insight’s VP Hayley Silver.
“Retailers should start by posting third-party verification and trust symbols, as well as measuring and tracking their customers’ data security concerns.”
The results of Bizrate’s Insights Payment Security Study came from more than 4,900 online buyers of 5,000 e-commerce retailers in the US and Canada during January of 2015.