Article courtesy of Digital Information World here
Nowadays people prefer to shop online instead of going to malls and getting tired. Although online shopping has made our lives easier and simpler yet there are many risks attached to it.
Social media is one of the biggest reasons why people nowadays prefer to shop online. Nearly a fifth of Online shoppers now make purchases through social media apps. As per recent research conducted by Visa, 1 out of 4 online purchases are made in response to an interaction with the social media outlet.
This research showed how many people liked this and enjoyed online shopping through social media app but they fail to notice the risk attached to it. This survey also highlights the danger that these apps bring to the customers and it advises the shoppers to be attentive while shopping on social media apps. Several people have questioned during the survey out of which 35% of people stated that they prefer online shopping because it is very convenient and they do not have to go to different places while shopping. Almost 26% of people stated that they enjoyed online shopping because of the speed of purchasing. Many of the people questioned agreed that they are not vigilant while online shopping as they believe that social media apps protected customer privacy which is not the case.
More than 57% of the people questioned said that they rarely check the reviews of previous buyers before buying any product and the rest of 54% of people stated they do not check the return and exchange policies before making purchases.
Not only this but many people even agreed that they made purchases because they were bored or distracted. 27% of the online shopper's made purchases while watching TV while 13% of the customers stated that they made online purchases to make them feel better and some even made purchases out of impulse
Out of the people questioned 58% of people were disappointed with their purchases as they didn't get the product they ordered and not only this but 38% of the disappointed customers are trying for a return or a refund but only 5% have been successful with it. 88% of the customers say that they are out of funds because of the number of times they have shopped online unnecessarily.
The risk attached to online shopping is increasing every day. As per recent data by the UK Finance, there are many disadvantages of online shopping. The number of frauds has increased to an extent ever since the coronavirus pandemic. Scammers are taking advantage of the users in lockdown as now people have no other option but to shop online.
Jeni Mundy Managing Director of Visa stated that most of the cases of frauds take place with customers' debit and credit cards but for users protection, many policies are made by them to avoid fraud. If the customer has paid online for a product that fails to arrive the customers can contact their bank and ask them to reverse the transaction. Another policy of Visa also ensures that the account holders will not be held responsible for any payments made from their account until the users confirm itself.