13 Nov, 2017

What Security Threats Emerge From The Holiday Season In Retail?

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The holiday season is an important time for retailers, as shoppers gear up to spend money on friends, family and loved ones across the world. It is a time that retailers really make efforts such as creative campaigns and different strategies that will reach an audience and create a growth in sales.

Although this is an overall positive and successful time for retailers, it can also bring forward challenges and concerns. These concerns have little to do with customers finding the perfect gift for your loved ones, and everything to do with security.

“The fourth-quarter holiday shopping season may be a big present in the form of more sales for retailers, but it may also bring with it a lump of coal in the form of amped-up cyber attacks and fraud attempts.” Digital Transactions reports. 

Online Shopping Risks

According to a recent study done by Accenture, security is a massive concern for holiday shoppers this year. They are aware of the risk of that online shopping can bring if used as a primary shopping source.

Since online shopping has made such a large impact in the retail industry, shoppers are migrating to this form of shopping during the holiday seasons more than ever before. Although online sites offer quick, seamless and efficient transactions for customers, all without requiring them to leave the comfort of their wifi signal, it also makes customers vulnerable to data breaches and cybercrime.

This means that customers will most likely go to great lengths to make sure their information is not breached, by only relying on trusted and reputable online sites. So, retailers are put in a position to prove their reputation in order to attract an audience.

“Additionally, the study finds that 64% of consumers plan to shop only at sites that they already know or feel are reputable. That may make it hard for retailers to acquire new customers during the busiest shopping time of the year, but Standish says there are a few ways sellers can make buyers feel more secure.” Digital Commerce reports.

Another factor that makes customers vulnerable to crime is the fact that they give information over the computer, oftentimes, without thinking where it could end up. If a retailer is offering a deal or coupons of some sort, customers are more prone to share valuable information online. If it’s one thing that retailers know, it’s that holiday shoppers love discounts,

The Solution

The problem with cybercrime during the holidays not only hinders customer’s interaction with retailers, it also has the ability to create a bad reputation for brands. In order to effectively combat security concerns during the holiday season, retailers must embrace the risk and set up components that will protect their customers.

A variety of different software techniques can help retailers make their online site secure and safe for customers. Integrating modern security solutions among e-commerce sites is one way to deal with the cybercrime. Other things like having software patches in place are also effective.

“30% of consumers said they would avoid brands that recently had a data security breach.” Digital Commerce reports.

If retailers are interested in keeping a strong customer base alive during the holidays, they will pay attention and integrate such tools. Otherwise, brands will fall short and alienate a customer base that is willing to shop for the holidays.

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