Online shopping is definitely growing, but new-found concerns about cyber security may be making consumers more cautious as they hunt for internet bargains this holiday season.
A recent survey by Deloitte Canada found that four out of five online shoppers were worried about the security of their personal data when shopping.
Almost half — 48.5% — said they've become more cautious when they shop online, something that will be at the forefront today when consumers look for deals during the retail marketing blitz of Cyber Monday.
The survey findings, based on online interviews with 2,019 Canadians in late September, and included in Deloitte's 2014 holiday retail outlook, were unexpected.
The extent of the consumer wariness and how it could affect shopping habits this season "did come across as one of the highlights and perhaps as a surprise," says one man connected with the study.
High profile data breaches at retailers such as Target and Home Depot — even though they may not have affected many Canadian shoppers directly — appear to have cast a shadow over online shopping.
Deloitte's survey didn't touch on exactly how online consumers might exercise caution. But Brain thinks it could mean they will go to sites that are more trusted, and to larger companies, rather than unknown online retailers.
Target Canada says its customers have "moved on" from the breach that saw credit card or personal information of more than 100 million customers compromised in U.S. stores a year ago.
No Canadian stores were affected, but Canadian customers who shopped in American stores between Nov. 27 and Dec. 15, 2013, may have been. The company offered them free credit monitoring.
Nearly five months after the incident, Target announced "updates on security enhancements."
But the breach took its toll: the company reported costs associated with it of $148 million in the second quarter of 2014.
