A hefty majority of U.S. consumers, 76%, are in fear of data breaches when shopping via social commerce sites.
That's a prime finding of a Soti research report, "The Rise of Social Commerce: Turning Tech-Driven Browsers into Influenced Buyers," that also revealed 64% prefer personalized shopping experiences.
Consumers are gravitating toward hybrid shopping models that seamlessly blend online and in-store experiences and the data highlights three key themes shaping the retail landscape: social commerce is fueling growth, security remains a high priority and AI is enhancing the consumer journey with improved personalization.
More than half of consumers, 61%, have abandoned online purchases due to security concerns and 63% fear they cannot keep personal and payment data secure, according to a press release on the findings.
"Trust is everything in the retail industry, especially as social commerce continues to grow. Retailers must remain committed to maintaining consumer trust, which includes protecting customer data and providing transparent security measures. When 70% worry about their data security when purchasing items through social media, it's clear that brands and platforms can't just focus on selling. They need to concentrate on safeguarding data and offering support that truly delivers," Shash Anand, SVP of product strategy, at Soti, said in the release.