Privacy risk is the biggest deal breaker for online shoppers

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Data security is the most important feature to adults worldwide when deciding whether to transact with a business online, according to TransUnion. An easy payment process is the second most important, followed by ease of login or authentication.

Beyond the chart: Gaining consumers’ trust is essential to winning their loyalty, especially in an economic climate where the best deal wins. To protect consumer data, brands should consider investing in identity verifications tools, behavioral biometrics, or solutions that flag data breaches in real time. But just as important, security features need to be seamlessly integrated into the customer journey and easy to use.

More like this:

• Consumers are reluctant to share much data with retailers
• The future of data security: Staying ahead of AI
• TikTok’s user data sharing is an unforced error that could cause marketers to consider reallocating toward Shorts and Reels
• In the game of trust, consumers value data transparency over liking a product or service
• Yesterday’s Chart of the Day: Chronically online

Methodology: Data is from the March 2023 TransUnion "2023 State of the Omnichannel Fraud Report." 13,383 adults worldwide ages 18+ were surveyed online during December 8-23, 2022.