I don't know about you, but COVID-19 has certainly reinvigorated my online shopping addiction.
And according to recent research, this pandemic has had a similar effect on cybercriminals against online retailers.
Survey: 41% of online retailers experiencing a cybercrime increase
From remote work to contactless delivery, the coronavirus is reshaping our relationship with computers and online interaction, bringing it to the forefront of our physical lives.
And as a world of consumers, this shift naturally applies to retail as well.
New research from Red Points, titled "The Day After COVID-19,"surveyed 150 U.S. brands for a deep dive into COVID-19's impact on ecommerce.
Some of the statistics seem obvious:
• 58% of respondents have seen an increase in online revenue
• 72% are pushing sales promotions and incentives to protect online revenue
As with watchers of "Tiger King," people investing in at-home gyms, and millennials with sourdough starters, the number of online retail sales exploded alongside the coronavirus.
But the research also reveals how hackers are benefiting from this uptick:
"41% have seen an increase in cybercrime and 68% said fighting cybercrime is very important to their business."
And among the businesses who reported a decrease in sales amid COVID-19, 46% cited cybercrime delays as a reason for the decline.
The data also demonstrated a shocking increase in the detection of counterfeit goods in major markets. First, the report broke down the numbers by region:
• 58% in the U.S.
• 63% in Spain
• 40% in China
Next, it tackled the individual industries experiencing the most counterfeit detection:
• 123% in toys/children's products
• 74% in sporting goods
• 43% in accessories
And, as it seems, these markets are aware of the problem. Not only did 68% percent of responses emphasize the importance of cybersecurity, the large majority also share similar beliefs about secure ecommerce:
• 78% believe cybercrime damages their reputation
• 71% believe counterfeiters are stealing sales
• 64% believe market share is reduced because of unlawful players
Awareness of the problems may be the first step to fixing them.
