Building consumer trust online

Building consumer trust online Donna L. Hoffman, Thomas P. Novak, and Marcos Peralta How merchants can win back lost consumer trust in the interests of e-commerce sales. Building Con Trust Online oving some Web consumers along to the purchase click is proving to be difficult, despite the impressive recent growth in online shopping. Consumer online shopping revenues and related corporate profits are still meager, though the industry is optimistic, thanks to bullish forecasts of cyberconsumer activity for the new millennium. In 1996, Internet shop- M ping revenues for U.S. users, excluding cars and real estate, were estimated by Jupiter Communications, an e-commerce consulting firm in New York, at approximately $707 million but are expected to reach nearly $37.5 billion by 2002 [1]. Meanwhile, the business-to-business side is taking off with more than $8 billion in revenues for 1997 and $327 billion predicted by 2002 just in the U.S., according to Forrester Research, an information consulting firm in Cambridge, Mass. [4]. On the consumer side, a variety of barriers are invoked to explain the continuing difficulties. There are, to be sure, numerous barriers. Such factors as the lack of standard technologies for secure payment, and the lack of profitable business models play important http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Communications of the ACM Association for Computing Machinery

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Publisher
Association for Computing Machinery
Copyright
Copyright © 1999 by ACM Inc.
ISSN
0001-0782
DOI
10.1145/299157.299175
Publisher site
See Article on Publisher Site

Abstract

Donna L. Hoffman, Thomas P. Novak, and Marcos Peralta How merchants can win back lost consumer trust in the interests of e-commerce sales. Building Con Trust Online oving some Web consumers along to the purchase click is proving to be difficult, despite the impressive recent growth in online shopping. Consumer online shopping revenues and related corporate profits are still meager, though the industry is optimistic, thanks to bullish forecasts of cyberconsumer activity for the new millennium. In 1996, Internet shop- M ping revenues for U.S. users, excluding cars and real estate, were estimated by Jupiter Communications, an e-commerce consulting firm in New York, at approximately $707 million but are expected to reach nearly $37.5 billion by 2002 [1]. Meanwhile, the business-to-business side is taking off with more than $8 billion in revenues for 1997 and $327 billion predicted by 2002 just in the U.S., according to Forrester Research, an information consulting firm in Cambridge, Mass. [4]. On the consumer side, a variety of barriers are invoked to explain the continuing difficulties. There are, to be sure, numerous barriers. Such factors as the lack of standard technologies for secure payment, and the lack of profitable business models play important

Journal

Communications of the ACMAssociation for Computing Machinery

Published: Apr 1, 1999

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