New York, Nov. 9, 2016 - Computop, a leading payment service provider (PSP), today released the findings from a recent study of consumers and their expected shopping behaviors this holiday season as well as their online security concerns. In a survey of over 1,900 consumers crossing the U.S. and UK, Computop found an overwhelming majority, 76 percent, planned to shop online this holiday season; however, 62 percent of those respondents overall don’t plan to shop on Cyber Monday, noting it doesn’t offer the deals it used to previously.
For the overall holiday shopping season this year, 55 percent of respondents said that they plan to spend the same amount online as last year, with 19 percent planning to spend more. With regards to Cyber Monday, it was an even split in the U.S., with 50 percent noting they plan to shop online then, and 50 percent saying they won’t. The difference was much greater in the UK, with 77 percent of respondents saying they won’t shop online on Cyber Monday.
When asked about purchasing products online from retailers outside of their own country this holiday season, 50 percent of respondents said they were not interested in doing this as they have enough options domestically. An additional 22 percent noted that they were concerned about the security of their payment data beyond their borders.
The statistics above may point to a broader uncertainty about the safety and security of consumers’ payment information online. Following are additional findings from Computop’s study that also looked at consumers’ payment preferences and their thoughts on the security of their data when shopping online:
Security Concerns
Payment Preferences
Security Authentication
“It’s not surprising to see the online shopping trend expected to continue this holiday season,” said Ralf Gladis, CEO of Computop. “What was particularly interesting is that despite the sustained interest in purchasing online, consumers continue to have significant concerns about the security of their personal information. However, they are not necessarily interested in taking extra steps to protect themselves - and in the case of the newer authentication technologies we agree. Before moving forward with features like these, it’s critical as an industry that we are able to ensure this data is stored securely before we potentially open up a possible new area for identify theft.”
For a copy of Computop’s report detailing the findings of this survey further, visit www.computop.com/uk/holiday-shopping-2016/ .
Note
Computop’s research was conducted online in October 2016 and included 1,036 U.S. respondents and 898 UK participants.
About Computop
Computop is a leading global payment service provider (PSP) that provides compliant and secure solutions in the fields of e-commerce, POS, m-commerce and Mail Order and Telephone Order (MOTO). The company, founded in 1997, is headquartered in Bamberg, Germany, with additional independent offices in China, the UK and the U.S. Computop processes transactions totalling $24 billion per year for its client network of over 14,000 mid-size and large international merchants and global marketplace partners in industries such as retail, travel and gaming. Global customers include C&A, Fossil, Metro Cash & Carry, Rakuten, Samsung and Swarovski. Following the recent asset deal with the Otto Group, Computop is now processing payments for merchants that previously used EOS Payment, including all 100 Otto retail brands. In cooperation with its network of financial and technology partners, which it has expanded over many years, Computop offers a comprehensive multichannel solution that is geared to the needs of today's market and provides merchants with seamlessly integrated payment processes.
For further information, please visit www.computop.com .
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Source: Company press release.
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