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Norton Report Reveals: 40% of Indians surveyed have been targeted by a scam when shopping online during the festive season

Rahul Roy by Rahul Roy
November 1, 2022
in News, Recent News, Technology
0
norton
  • Over 4 in 5 Indian adults surveyed (85%) admit to risking their personal information or privacy in several ways during the festive season
  • 74% of Indian adults surveyed say that spending time online via their connected devices helps their mental well-being during the holiday season

Norton, a global leader in consumer Cyber Safety, today published Indian findings from a global study conducted online in August 2022 among 1,001 Indian adults aged 18+ by The Harris Poll on behalf of NortonLifeLock that explored attitudes towards Cyber Safety and online shopping during the festive season. The report highlights the importance of taking precautions with your personal information online. The findings reveal that all (100%) of those planning to shop during the 2022 festive season expect to do so online, with 61% saying that they expect to do more than half of their festive season shopping online.

The festive season is often a time when many people buy gifts for their family and friends. This holiday season, Indian adults surveyed expect tech-based gifts including smartphones (64%), smart watches (55%), and smart home devices (47%) to be the most sought out gifts. Though only a small minority of adults in India surveyed(8%) plan to buy fewer technology gifts this festive season compared to years past, over 4 in 5 of those planning to buy less tech gifts (84%) say this is due to concerns of rising costs of living and inflation. To help with inflation/the rising cost of living, most Indians surveyed (91%) are likely to take cost cutting measures of some kind this festive season,  which for some includes clicking on a questionable link offering them a good deal on technology products (36%) or a reduced energy bill (29%).

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Norton Report Reveals: 40% of Indians surveyed have been targeted by a scam when shopping online during the festive season

 “Festivals bring friends and family together. Recently, there has been an increase in the number of online shoppers, and with that the rise in online shopping scams, gift card frauds, postal delivery frauds. Our Norton report also suggests that many Indian adults surveyed  who have fallen victim and been defrauded while online shopping have been impacted financially and have lost money as a result, their average loss of those surveyed being INR 6216. While some consumers are not strangers to threats and are taking preventative measures to protect themselves online, there is always room for improvement.,” said Ritesh Chopra, Norton Director India and SAARC Countries at NortonLifeLock. He adds, “We at Norton are dedicated to protecting people’s data and devices and understanding their concern when online shopping.” 

Two-thirds of Indian adults surveyed are at least concerned about the following when shopping online during the holiday season:

• Their personal details being compromised (78%)

• Being defrauded by a third-party retailer (77%)

• Unintentionally receiving a counterfeit version of a gift (76%)

• A device they buy for someone else being digitally unsafe (75%)

• Their holiday travel arrangements or accommodations being ruined by a scammer (73%)

• Buying or receiving a refurbished device as a gift (72%)

• A device they receive as a gift being hacked (69%)

Spending time online offers an escape for many Indian adults during the festive season. Most Indian adults surveyed (78%) agree that spending time online via their connected devices helps them feel more connected during the festive season, and 74% say that it helps their mental well-being. In fact, 2 in 3 Indian adults (65%) say their mental well-being would suffer if they could not access their connected devices during the festive season. The study also shows that 95% of Indians plan to take at least one action to manage their mental health this festive season, most typically by spending time outdoors (54%), reading books (50%), and/or reconnecting with friends / family using social media (50%).

Read: Do the Tatas intend to combine Air India with Vistara?

Tags: Nortononline shoppingScam
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GetSetUp, an online platform for older adults to learn and develop new skills has joined hands with India’s leading Asset Manager, ICICI Prudential Asset Management Company Ltd, to offer classes about financial tools for saving and investment to its members. Topics for these classes will range from basic economic financial principles, investments for retired life, types of mutual funds and how various funds and other investments work etc. GetSetUp provides seniors with a safe place to not only learn from peers but to also come teach and share the skills they have gained over their lifetime. There are over 3000 weekly live interactive classes taught by creators who are older adult experts in their field, community members, and special guests. ICICI Prudential AMC is one of India’s most respected financial services brands with two decades of experience in Fund Management as they significantly contribute towards the growth of the Indian Mutual Fund industry. The company enjoys the trust of nearly 8 million investors. The company bridges the gap between savings and investments, creating long-term wealth for investors through innovation, consistency and sustained risk-adjusted performance. Abhijit Shah, Head of Marketing, Digital & Customer Experience, ICICI Prudential AMC commented on the partnership saying, “With our arrangement with GetSetUp, we hope senior members will become adept and comfortable with Finance & Investments and leverage it for learning new skills & planning their finances better. ICICI Prudential AMC endeavours to simplify the investor journey to meet their financial goals, and create great customer experiences through innovation, consistency & sustained risk-adjusted performance.” Deval Delivala co-founder and SVP of GetSetUp commented on the partnership saying, “At GetSetUp, we are on a mission to empower older adults with skills and opportunities and financial literacy is a major part of it. The arrangement with India’s leading Asset Manager, ICICI Prudential Asset Management Company Ltd. is a step ahead in the direction of providing relevant and detailed information on financial tools that older adults could benefit from. We expect this information to help our large community in India to feel confident in their understanding of the financial options available to them so they can feel more financially secure." According to the Tech Spotlight Data findings released in October 2022 by GetSetUp, more and more older adults are using various devices to consume content online. Learners can join GetSetUp from any mobile device and have access to select free classes on the platform. By signing up for an annual membership (₹3000 yearly) they can then access hundreds of classes on health & fitness, technical skills, entrepreneurship, DIY, well-being and more that are available around the clock at a click of a button.

GetSetUp partners with ICICI Prudential Asset Management Company Ltd to offer classes to older adults on financial decisions and investing

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