New SiteLock Survey Reveals 60% of Consumers Abandon eCommerce Retailers After Cybercrime Occurrence

Staff Report

Friday, November 18th, 2016

According to a recent surveyfor SiteLock, the global leader in website security solutions, two thirds of those surveyed will no longer shop at the site where their information was stolen, indicating a huge potential loss in the event of a breach.

The survey underscored the importance of website security for online retailers big and small as they prepare for the critical holiday shopping season. In fact, websites experience 22 attacks per day on average, and a recent Ponemon study uncovered that 50 percent of small businesses experienced a breach in the last year. Even more alarming, eCommerce sites are 1.5 times more likely to be compromised than a website that does not sell anything online.

It's no wonder that nearly 20 percent of Americans do not plan to shop online this holiday season. When asked the main reason why they will not shop online, concern about their information being stolen was one of the top responses. Of those who have ever shopped online and worry about shopping online during the holidays, Millennials surprisingly outweighed every other age group, with nearly 40% indicating that they were more worried at this time of year.

"Over 760,000 websites are breached each year and it is estimated that 60 percent of small businesses fold within six months of a breach," said Neill Feather, president of SiteLock. "Consumers are seeking assurances from the brands where they shop and expect them to do everything in their power to secure the websites themselves and, in turn, protect customer data. During the profitable holiday shopping season, it is imperative for online retailers to demonstrate that they are doing so."

Of those asked what the most important thing an online store can do to make them feel more confident and indicated that they want to know which security company protects the sites they shop on, 34% are Baby Boomers, 28% are of Gen Xers and 39% are Millennials. More than half indicated that a secure payment process makes them feel more confident, while 17 percent indicated a recognized security logo. The risk of a data breach is always potentially crippling, but even more so in the coming weeks when many online retailers do the majority of their business for the year.

SiteLock scans over six million websites and web applications daily, providing companies with insights into not only what the risks are, in real time, but how businesses and consumers can protect themselves. To protect your website, and your business, our experts suggest the following:

  • Clean house. Keep all the systems you use for business malware and infection free by regularly scanning and updating software and apps.

  • Don't store data you don't need. Identity thieves and those seeking customer data of all kinds cannot steal what you don't have. Eliminate any private customer data that is not essential to your business.

  • Reassure shoppers. When asked what the most important thing an online store can do to make them feel more confident, Baby Boomers, Gen Xers and Millennials alike said they want to know which security company protects the sites they shop on.

  • Instill confidence. A secure payment process and a recognized security logo also rated as top confidence boosters so be sure your eCommerce site is on a secure network. Look for HTTPS or SHTTP and the padlock symbol in your URL. If you use a security company or tool, be sure to prominently feature its logo on your site.

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