Data privacy breach and hacking are the top reasons why consumers in Singapore, China, and Australia would not use or allow Internet of Things (IoT) devices to make online purchases on their behalf, according to Connected Consumer report by Worldpay.
More than 70 percent of 6,043 consumers polled for the study expressed concerns that manufacturers would share their personal data or cybercriminals will hack the connected devices.
Despite the security concerns, 61 percent of respondents in China said they would be comfortable with a connected device shopping for them even without their permission.
In Singapore, majority of the polled consumers (55 percent) said they still want to approve a purchase before buying it. Meanwhile, respondents in Australia are divided, with half of them saying a set of rules is needed to limit the products the device can buy, and when.
"The beauty of technology advancements means that there are many opportunities for virtual assistants and connected devices to make consumers' lives easier. If machines can offer consumers a 'concierge' style service that reduces day-to-day life admin and menial tasks then there is no reason why they won't want to delegate some of their shopping responsibilities - after all, we would all appreciate an extra bit of time to ourselves. In the end, consumers need confidence that machines can be trusted to make the right decisions and keep their owners informed and in control," said Phil Pomford, general manager of Worldpay in Asia Pacific.
The Connected Consumer report gathered the opinions of consumers about IoT devices in the home and how comfortable they are to make payments using such technologies (e.g. smart appliances, drones, and virtual assistants).
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