Are consumers being protected and what are the legal requirements of business to ensure their data is secure?
Listen to a 3 minute interview with Tom Harding, e-commerce specialist and Associate Director at Osborne Clarke:
- Majority of British shoppers (61%) are happy to share their information online, despite recent cyber attacks
- Consumers embrace retail technology, with almost half (49%) using contactless cards and two in five (37%) shopping online, but security is a big concern
- Many consumers are willing to trade their personal data in exchange for perks like personalised offers but could potentially be unaware of data protection risks
Forecasters are predicting £5 billion will be spent over the Black Friday and Cyber Monday weekend this year, with the significant majority of that online and by mobile. Yet despite recent high profile cases of cyber security attacks and Government statistics showing 90% of large firms suffered security breaches last year, most (61%) British shoppers are still happy sharing their information online.
Our recent research report The European connected consumer: a life lived online, published in association with Retail Week, identifies consumer trends and the associated legal challenges for businesses across seven key European markets.
The findings reveal 37% of British consumers now mostly shop online and almost half (49%) use contactless cards, but trust between retailers and consumers is important, with 39% not comfortable sharing their data when making a purchase online.
Click here to download the report “The European connected consumer: a life lived online”.