SecurityWorldHotel

03/01/2017

Survey reveals 1 in 5 would stop shopping at a hacked store

Plantation, Fl

Thales, a leader in critical information systems, cyber security and data security, has revealed the results of its recent survey of Americans’ holiday shopping behaviour and potential reactions to a retailer breach.

The survey revealed more than half of consumers believe they would change their purchasing behaviour at a retailer if they knew its systems had been hacked and credit card data stolen. Fifty-five percent of U.S. consumers would return to cash payments at checkout and 20 percent would take their shopping elsewhere.

Plastic beats paper.  According to the survey, more than 90 percent of consumers who planned to buy holiday gifts would be using a credit card, debit card or mobile device like a smartphone. This surpasses 56 percent of consumers who planned to use cash. The survey allowed for multiple answers in this section to fully capture consumer preferences.  Even though the use of mobile wallets is on the rise due to speed and ease of use, only 16 percent of U.S. consumers planned to use mobile payments this season.

The switch to online and mobile device shopping and payments has gained serious ground against brick-and-mortar. In the U.S., physical stores are in the lead, but just barely. Sixty-six percent of U.S. consumers intended to visit a store to buy holiday gifts, while 64 percent were going to purchase on a desktop or laptop computer. One-third of holiday shoppers were going to use a mobile device, such as a smartphone or tablet.

They survey asked, "Which of the following, if any, describe how you will be making your holiday purchases this year?" (This part of the survey also allowed for multiple answers to fully capture consumer preferences). The respondents replied as follows:

66%  - At a store’s physical location

64% - On a desktop or laptop computer

33% - On a mobile device, smartphone or tablet

8% - I do not plan to do any holiday shopping this year

“These survey results offer a stark reminder that a serious data breach could stop many consumers from shopping at a merchant’s store or at the very least move them back to cash payments,” said Jose Diaz, director of payment strategy at Thales e-Security. “While the current make-up of U.S. consumer buying habits shows a slight lead for traditional approaches, I anticipate that we will continue to see greater adoption of mobile for both browsing and buying as well as an increase in mobile wallet use over the next five years.”


Tags

Business News

Multi-factor authentication market strengthens with growing cyber threats

According to the latest market research report from Marketsandmarket the multifactor authentication market  is expected to grow at a CAGR of 15.52% to reach USD 12.51 Billion by 2022. Factors such as an increase in data breaches and cyber attacks, stringent regulations and the growing pressure of data security compliances, and the growing adoption of BYOD concept among enterprises are driving the growth of the multifactor authentication market.

Product News

Dahua Nvidia partnership offers Deep Sense smart video server

The “Deep Insight, Deep Cooperation” – Dahua Smart GPU Product Release Conference was held in Hangzhou in March. Together with Nvidia, a world-leading Artificial Intelligence (AI) computing company, Dahua released the Deep Sense server for smart video structure analysis, designed with extremely high computing capability. Mr. Yang Yinchang, General Manager of Dahua R&D Center, Dr. Pan Shizhu, President of Dahua Institute of Advanced Technology, as well as Mr. Shen Wei, VP of Nvidia participated in the new product release conference.

Business News

The key to successful safe cities is a collaborative approach

For the first time in history, more people around the world live in cities than in rural areas. By 2030, over 60 percent of the world’s population will be living in cities. While this global migration to urban areas improves the living standards, health and financial prosperity of these citizens, it brings challenges to a city’s infrastructure, resources, security procedures and emergency response systems. Meeting these challenges is critical to the success of cities in the decades that follow, and IHS Markit analysts have produced a market insight report exploring the potential benefits of the Safe City concept.

Business News

Cyber security focus for Israel's first Secure-By-Design Government facility

Cyberbit, the wholly owned subsidiary of Elbit Systems, whose cyber security solutions protect some of the world’s most sensitive systems, has been selected by the Arison Group – Solel Boneh Infrastructure, one of Israel's most prominent construction and infrastructure companies, to provide its cyber security product suite for the new Ram Compound, an ultra-secure facility under construction in the Israeli capital. The Ram Compound will serve as headquarters for sensitive government ministries and will integrate physical and cyber security to achieve unprecedented resilience.

Product Suppliers
Back to top