Why is it important for retailers to have extra security on their websites in the run up to Christmas?
Confidence in online sites is currently at a real low. Consumers can’t afford to lose control of their personal details and are actively seeking out websites where they know their hard-earned cash will be safe. If they have any concerns about whether someone could steal their details, they will cancel the transaction and take their business elsewhere. In a recent survey, 90% of respondents said they would stop making purchases online if they felt their credit card details or personal information was at risk.

What are the major factors to consider beforehand?
Consumers are reluctant to spend extra time or money learning how to understand online security procedures, so your policies must be simple-to-use. Remember, potential customers want to be able to trust their online providers to protect them while they are buying, so if retailers want to retain their business, they have a responsibility to provide a robust, easy-to-navigate system.

What are the biggest risks?
If a consumer has reason to believe a site is not safe, it is highly likely retailers will lose their custom. The Identity Fraud Steering Committee (IFSC) estimates that the cost of identity fraud to the UK economy is approximately £1.2 billion – amounting to around £25 per person.

At the moment, some of the larger risks include phishing – a process by which emails or instant messages lure consumers into giving up sensitive personal information – Malware (such as malicious software like viruses, worms and Trojan horses that get into computers through web browsers, email and backdoors) and social engineering where criminals play on people’s compassion or curiosity to entice them into giving up personal details.

How can retailers protect their websites?
Businesses need to use specialised systems such as the Secure Sockets Layer (SSL), which ensure that, during a transaction, sensitive data is encrypted and only the authorised recipient is able to read it.

What are your top tips for success?
Put customers and convenience first. Businesses often enhance their security systems without considering the potential impact it will have on their shopper’s experience. That’s a big mistake, as it will lower the popularity of cost-efficient services. Make sure you invest in a symbol of trust to show users that your website is secure. Consumers react well to visual cues, such as green address bars and padlock icons that guarantee a website is safe.

Nowadays, simple login names and passwords are no longer enough to protect businesses, so make sure you know when your customers are most at risk. Develop detailed profiles of each shopper’s online behaviour, including transaction amounts and the average amount of time they spend online, and use this to monitor customers’ activities so you are alerted immediately when potentially fraudulent behaviour occurs.

What will be the benefits of making the changes now?
By installing security measures that customers can trust and understand immediately, retailers can build a reputation as being safe to buy from, ultimately resulting in higher purchases, and more profit in the long run.