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Online Shopping Essay

892 words - 4 pages

Online shopping is becoming more popular with Canadians. For retailers, the implications are considerable. New strategies for attracting customers are being deployed by retailers that integrate ecommerce into their 'traditional' retail businesses. While retailers are benefitting from ecommerce business they must face on-going issues associated with utilizing ecommerce technology. Technology issues, security concerns and a rapidly growing industry are some of the challenges facing retailers within the ecommerce market.
Retailers are using ecommerce to enhance their businesses. Statistics Canada has stated that ecommerce sales in 2005 were $39.2 billion Canadian. (Economist Intelligence Unit, 2006) The retail sector has recognized the considerable gains to be made and is responding by offering products online with the option of having customers pick up their products within their retail stores. It is their hope that once the customer is in the store they will make impulsive purchases and this seems to be working as the article from Economist Intelligence units states that numerous retail studies are showing consumers have spent more with retailers that can offer them the opportunity to visit the store to obtain their product. Using this approach allows retailers the means to enhance their existing businesses with ecommerce services.
Information security continues to be the main reason more customers are not shopping online. A survey of 688 people showed that the problem is two-fold. Some of the survey respondents, 42%, stated that fear for the security of their credit cards was the reason they had not made on-line purchases while another 36% stated that they were concerned about private information being distributed on the internet. (Economist Intelligence Unit, 2006)
Credit card security is a primary concern amongst customers; however, credit card fraud through ecommerce sites is negligible. The most common forms of credit card fraud do not take place on ecommerce sites. Common forms include stealing credit card numbers in offsite transactions, online phishing where someone responds to an illegitimate email which they think is from their financial institution, or by way of software that attempts to guess at plausible numbers. (Mangiaracina & Perego, 2009) Ecommerce sites have also adopted various technologies to ensure the safety of their customers when purchases are made through their sites. 3-D secure systems, CVV2/CVC2/CVA2/4DBC, or electronic wallets such as PayPal are some of the technologies being used which can require extra user id's and passwords to close the deal, or the use of the three digit code on the back of a consumers credit card as an added security measure. As an added measure, most of the merchants in one study stated that they also cross check the data they receive on a transaction such as address, name, etc to...

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