UK retailers miss out on £1.6 billion in online seasonal sales due to consumer security fears

UK retailers miss out on £1.6 billion in online seasonal sales due to consumer security fears

Online retailers in the UK could be missing out on £1.6 billion in Christmas sales as one in three consumers shy away from Internet shopping because of security worries, according to research commissioned by Unisys.

The Web-based survey, which polled 500 people in the UK and 1744 in the US, also revealed that an overwhelming 95% of respondents believe that banks and building societies should give practical advice on how best to avoid Internet based fraud and that banks should better address their solutions to cyber-crime.

Almost half of those questioned, 48%, confirmed that they would consider switching banks to one that offered better security.

Nick Wilson, vice president & general manager, UK at Unisys, comments: "There is still work to be done on convincing people that they can trust companies with their personal details and that shopping online is a safe and reliable medium. It’s down to online retailers, and the card-issuing banks and building societies, to address these concerns if Internet trading is to reach its full potential."

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