As holiday sales approach, you’re eagerly anticipating the surge in shoppers, ensuring you have the best customer experience, both online and in-store. But none of the things you did to optimize your site or inventory matter if malicious bots get in the way.
Based on data from previous years and the current threat landscape, 2023 is expected to bring new challenges for retailers and eCommerce providers. Here are our five predictions, based on recent years’ data, of what retailers need to watch out for ahead of the 2023 holiday season:
1. 3x Increase in Fake Accounts
Last holiday season, we saw a 3x increase in the creation of fake accounts. Large numbers of fake accounts are created ahead of sales in order to establish accounts, giving adversaries an exponentially greater chance of getting the most in-demand products in lottery-style hype sales. While most of these mischievous actors made their move before Black Friday, they couldn't resist striking again on Cyber Monday.
Fake accounts can also wreak havoc by manipulating product reviews, using stolen payment information, and engaging in other forms of online trickery. Most retailers should bolster their security measures, using identity verification, fraud detection, and bot mitigation tools to ensure that their customers are genuine and their data remains safe.
