In a revealing study by McAfee Corp., over 7,000 adults across seven countries, including India, were surveyed to understand consumer behavior during the festive shopping season. The study highlighted that a majority of Indian consumers trust online shopping as much as in-person shopping. It also focused on online shopping trust, scams, and vulnerabilities.
A notable 43% of Indian consumers admitted to falling for ‘too good to be true’ deals during the festive season. Consumers trusting easily has led to 54% experiencing online scams, with 65% suffering financial losses of up to ₹40,000. Shockingly, 23% of respondents were open to providing credit card details to unknown merchants for attractive deals.
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In terms of shopping behavior, there’s a clear shift towards digital platforms. According to the report, 91% of Indians planned to shop online during the festive season. Consumer habits show a preference for convenience. This includes, many making online purchases in bed at night (59%), during work hours (37%), at dinner time (28%), and even while using the toilet (10%).
The study also highlights technological concerns like the use of artificial intelligence by cybercriminals. About 95% of the respondents believe that AI has increased the frequency of online scams. Furthermore, 34% find it challenging to distinguish between real and fake messages.
In response to these findings, Roma Majumder, SVP of Product at McAfee, emphasised the importance of advanced AI to protect yourself against cybercriminals. To safeguard against scams, McAfee advises consumers to be cautious with suspicious emails and messages. You have to think twice before clicking on them, and to use authentic sources for verification. They also recommend using McAfee Scam Protection’s AI-driven technology to block dangerous links and ensure secure online browsing.
