Seventy-one percent of Americans are concerned that their financial and personal information could be compromised due to data breaches while shopping during this holiday season, according to a consumer survey conducted by Generali Global Assistance.
The second-year survey found that 91% of Americans plan to shop during the holiday season. Their top three shopping options are:
- Brick-and-mortar stores (65%),
- Online via a laptop/desktop computer (59%),
- and mobile devices (36%).
Regardless of the preferred shopping method, 33% of consumers say businesses are not doing all they can to protect their personal information. Another 33% say they are unsure if businesses are doing enough.
Businesses could do more, shoppers feel
If a retailer experienced a data breach in the past, 83% of shoppers feel concerned making an online or in-store purchase at that retailer. To ease consumer anxiety, the survey found that 55% of Americans would feel more confident if a business offered identity protection services, and is actively working to protect data and reduce cyber risk.
This year, the most popular form of payment for holiday purchases will be cash (56%), debit (52%) cards, and credit cards (45%). In 2017, the most popular form of payment for holiday purchases was through a credit card (57%).
“With 2017 recording an all-time high of over 1,500 data breaches, consumers are more aware of the threats associated with holiday shopping and the need for businesses to better protect their data,” Paige Schaffer, president and chief operating officer of Generali Global Assistance’s identity and digital protection services global unit, said in a press release. “Though consumers are less confident in a business’ ability to protect their data, offering identity protection establishes trust and sends a clear message that they take the burden and privilege of protection data seriously.”