Consumers Plan To Increase Online Shopping During 2003 Holiday Season, Despite Mounting Concerns about Credit Card and Identity Theft, According to SPSS Survey.Business Editors CHICAGO--(BUSINESS WIRE)--Dec. 3, 2003 National Survey: Consumers Will Conduct 25% of Holiday Shopping Online This Year; Though More Than Fifty Percent Have Increased Concerns About Online Fraud At the kickoff to the 2003 holiday shopping season, consumers plan to purchase more of their gifts online despite their increasing fear of credit card fraud Credit card fraud is a wide-ranging term for theft and fraud committed using a credit card or any similar payment mechanism as a fraudulent source of funds in a transaction. The purpose may be to obtain goods without paying, or to obtain unauthorized funds from an account. and identity theft. The findings were released today by Chicago-based SPSS A statistical package from SPSS, Inc., Chicago (www.spss.com) that runs on PCs, most mainframes and minis and is used extensively in marketing research. It provides over 50 statistical processes, including regression analysis, correlation and analysis of variance. Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :SPSS), a global provider of predictive analytics Predictive analytics encompasses a variety of techniques from statistics and data mining that process current and historical data in order to make “predictions” about future events. and market research technology, based on a survey of more than 1,000 U.S. respondents In the context of marketing research, a representative sample drawn from a larger population of people from whom information is collected and used to develop or confirm marketing strategy. conducted via Opinion Place, the premier source for online survey respondents. Credit card fraud continues to be a growing problem for Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the businesses; during the 2002 holiday shopping season, Internet merchants lost nearly $500 million due to fraudulent The description of a willful act commenced with the Specific Intent to deceive or cheat, in order to cause some financial detriment to another and to engender personal financial gain. orders. Compared to their brick-and-mortar counterparts, online merchants are facing a risk of fraud that is 19 times higher, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Gartner, Inc., an industry analyst firm. Despite these inherent risks and the increased visibility given to identity theft and fraud stories by the news media and financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. advertisers, consumers are increasingly turning to the Internet for their holiday shopping. The SPSS survey found that consumers plan to conduct 25 percent of their shopping online this year, an increase of 6 percent from 2002. At the same time, more than half (52 percent) are at least somewhat more concerned about using their credit card online this year than last. Identity theft is considered to be the greatest concern for 54 percent of consumers, with credit card theft second at 26 percent. While concerns about fraud are increasing, most consumers feel they are doing their part through secure passwords. While 84 percent feel their passwords are at least somewhat secure, only 44 percent of respondents never change their passwords. The longer a consumer has been shopping online, the more likely they are to change their passwords. "The results of this survey show that consumers are increasingly willing to balance the risk of fraud with the convenience of online shopping," said Dan Coates, vice president, SPSS survey and samples. "Given that, the potential for a significant increase in online shopping exists when the potential for fraud is eliminated. Stringent security standards are not enough. Internet retailers need to take a more proactive approach to combating online fraud through the use of technologies that can help them to detect and prevent fraud before it occurs." About SPSS SPSS Inc. (NASDAQ:SPSS) is the world's leading provider of predictive analytics technology and services. The company's predictive analytics technology connects data to effective action by drawing reliable conclusions about current conditions and future events. More than 250,000 commercial, academic, and public sector customers rely on SPSS technology to help increase revenue, reduce costs, improve processes, and detect and prevent fraud. Founded in 1968, SPSS is headquartered in Chicago, Illinois. For additional information, please visit www.spss.com. SPSS information is available on the World Wide Web through the SPSS Press Center at: www.spss.com/press |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion