Holiday Season Fraud a Concern for Consumers.

Fifty-four percent of consumers are concerned with being victimized by fraud this holiday season, a 17% increase from last year, according to a consumer holiday shopping report from TransUnion, Chicago, III. In addition, consumer fears of fraud have intensified, with one-third saying they are more concerned than last year, compared to only one in four consumers who felt that way in 2021.

With fraud worries heightening, 60% of consumers say they have a positive view of additional identity verification measures at checkout with online retailers--a 20% increase since last year. Conversely, when consumers were asked for the top reasons they would abandon their online cart, compared to 2021, 72% more selected "fraud concerns," while 40% selected "not enough security on the site."

"Increases in consumer fears about fraud and desires for security were a recurring theme," says Cecilia Seiden, vice president of TransUnion's retail business. "We also found consumers increasingly expect online retailers to deliver safe and seamless shopping experiences as they have less patience for errors and inconvenience."

When asked to rate the importance of certain elements of shopping on a mobile device, the highest-rated feature was two-factor authentication (e.g., receiving a one-time se- ' curity code via text), with 80% of consumers indicating it was moderately or very important.

The report also found a 53% increase in the number of consumers who indicate that having their personal information pre-filled at checkout is "very important." There was an 18% decrease in the number who said this feature is "not important."

Consumers demonstrated less patience with negative shopping experiences, compared to last year. In every category of shopping experience, more consumers indicate they would abandon...