The state of ecommerce trust in 2020 [Original Research]

Every few years we conduct a survey to get inside the minds of consumers and find out what factors influence their trust in ecommerce sites. Since ecommerce sales are forecast to surpass $6.3 billion by 2023, we decided it was a good time to check in with consumers and see how their trust in ecommerce sites might have changed in recent years.

  • Published: 20-08-2021

  • Related Category: Application Security

  • Type of Content: Articles

  • Owner: TrustedSite

Since ecommerce sales are forecast to surpass $6.3 billion by 2023, we decided it was a good time to check in with consumers and see how their trust in ecommerce sites might have changed in recent years.

Last month we asked over 600 consumers a series of questions about their ecommerce shopping experiences using SurveyMonkey Audiences and made some surprising discoveries. In this article, we’ll discuss some of our most interesting findings.

Consumer concerns about unfamiliar websites reach a high point

We asked consumers to rate their concerns about unfamiliar and familiar sites back in 2018. After asking consumers the same question this year, we found that more consumers are concerned about unfamiliar sites than before, with 92% of respondents reporting concerns (90% in 2018).

This increase did not come as a surprise to us. With more and more scam links invading consumers’ inboxes, text messages, and social media, they have been conditioned to be wary of engaging with sites they don’t recognize.

Concerns about familiar sites have actually gone down. In 2020, just over 49% of consumers reported concerns about shopping at websites they have shopped at in the past, down from 62% in 2018. Concerns about large, established sites like Amazon have also gone down, from 64% in 2018 to 44% now.

More consumers are shopping online than ever before, and many have taken advantage of conveniences (like discounts with subscriptions) that turn them into repeat buyers. It’s only natural for trust to increase and concerns to decrease as shoppers become more familiar with a site.

However, it is alarming that such a significant portion of consumers (44%) still hold concerns even with the biggest eCommerce sites. This shows that many consumers realize no site is immune from the threat of data breaches and they remain vigilant when sharing their personal information online.

27% more consumers are worried about shopping on their smartphones

In 2020 over 84% of consumers said they are concerned about providing personal information when shopping online on a smartphone, this is up from 66% in 2018. Though many sites have adopted responsive layouts to make the mobile experience seamless for shoppers, it’s not uncommon to come across sites that are still using outdated or poor designs, something that 43% of our respondents cited as a sign of a fraudulent business. If a shopper’s mobile experience is not as seamless as the experience they are accustomed to on desktop, it’s understandable why sharing personal information would seem like a risk.

Stolen credit card information is the number one concern

About 31% of consumers said their biggest concern when shopping online is having their credit card information stolen. Quite a bit more consumers were concerned about this than the next leading fear–13% of consumers said they were most concerned about business legitimacy. Since stolen credit card information could lead to an immediate financial impact, it’s easy to see why so many consumers worry about this above all else.

14% more consumers are concerned about identity theft

Back in 2018 we asked consumers if they worry about identity theft when shopping online and 74% said they do. In 2020, that number rose to 84%. In 2019, 3.2 million cases of fraud were reported to the FTC, and the most common type was identity theft. As more Americans experience identity theft or know of it happening to people around them, they are starting to feel more vulnerable when giving out their personal information online. As a result of this concern, over 28% of consumers have abandoned a purchase.

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