RiskIQ Report Uncovers Consumer Spending and Safety Sentiment for Online Shopping this Holiday Season

RiskIQ, the global leader in attack surface management, released the findings from its Consumer Holiday Shopping Sentiment and Outlook 2020 report. The report explores how consumers plan to allocate their holiday budgets, what effect COVID-19 will have on the way they shop, to what degree they’re aware of threats that come with online shopping, and advice for consumers to protect their data through Black Friday, Cyber Monday, and beyond.

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RiskIQ surveyed a cross-section of American shoppers to better understand this season’s threat landscape through the lens of their habits and role in protecting personal information while shopping online.

Key findings include:

• 75% of people will spend the same or more than last year
• 83% of people will spend at least 50% of their budget online
• 22% will shop entirely online with no plans to shop at brick and mortar stores
• 85% of people are mildly to highly concerned about their personal information when shopping online
• 90% of people are concerned over the rise in cybercrime since the start of COVID-19
• 56% of people cite the pandemic as a reason they’ve changed their attitude toward online security

Even considering widespread belt-tightening caused by COVID-19-related job loss, Deloitte projects a continued rise in retail sales over last year’s figures. The firm forecasts that e-commerce sales could rise by as much as 35% due to limited in-store retail options.

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For shoppers looking to score great deals while filling out their holiday shopping list, one misinformed action can result in a malware infection, stolen personal data, or a hijacked credit card number.

“This year’s bad holiday actors will capitalize on COVID-19 and the increase in online shopping by using the brand names of leading e-tailers, as well as exploiting the poor security habits of consumers,” said RiskIQ CEO Lou Manousos. “With shoppers having little option but to rely heavily on e-commerce this holiday season, we hope to shed some light on tactics to stay safe online.”

RiskIQ has also introduced a Holiday Shopping Microsite to help shoppers better protect themselves and others from data breaches. Users can report suspicious URLs to help record-keeping of new online hosts and domains related to holiday shopping, so security teams can better respond to the influx of criminal activity.

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