I don't know about you, but COVID-19 has certainly reinvigorated my online shopping addiction.
And according to recent research, this pandemic has had a similar effect on cybercriminals against online retailers.
From remote work to contactless delivery, the coronavirus is reshaping our relationship with computers and online interaction, bringing it to the forefront of our physical lives.
And as a world of consumers, this shift naturally applies to retail as well.
New research from Red Points, titled "The Day After COVID-19,"surveyed 150 U.S. brands for a deep dive into COVID-19's impact on ecommerce.
Some of the statistics seem obvious:
• 58% of respondents have seen an increase in online revenue
• 72% are pushing sales promotions and incentives to protect online revenue
As with watchers of "Tiger King," people investing in at-home gyms, and millennials with sourdough starters, the number of online retail sales exploded alongside the coronavirus.
But the research also reveals how hackers are benefiting from this uptick:
"41% have seen an increase in cybercrime and 68% said fighting cybercrime is very important to their business."
And among the businesses who reported a decrease in sales amid COVID-19, 46% cited cybercrime delays as a reason for the decline.
The data also demonstrated a shocking increase in the detection of counterfeit goods in major markets. First, the report broke down the numbers by region:
• 58% in the U.S.
• 63% in Spain
• 40% in China
Next, it tackled the individual industries experiencing the most counterfeit detection:
• 123% in toys/children's products
• 74% in sporting goods
• 43% in accessories
And, as it seems, these markets are aware of the problem. Not only did 68% percent of responses emphasize the importance of cybersecurity, the large majority also share similar beliefs about secure ecommerce:
• 78% believe cybercrime damages their reputation
• 71% believe counterfeiters are stealing sales
• 64% believe market share is reduced because of unlawful players
Awareness of the problems may be the first step to fixing them.