The internet has leveled the playing field for large and small companies. You no longer need to be a big brand to attract many customers and generate a huge profit. All you need is some tech know-how, marketing prowess, and attractive products or services.
However, online stores face more modern issues to overcome, which might threaten their reputation, profitability, and growth. Learn about the biggest tech challenges for e-commerce companies.
Cybersecurity Threats
E-commerce companies will need to mitigate various cybersecurity threats to protect their website, data, and revenue. Unfortunately, hackers can execute various cyberattacks to infiltrate a website, steal information, or bring down an online store.
For example, a brute force attack is one of the most common techniques for cracking passwords, as a hacker will use various character combinations to enter a website. An SQL injection is another threat that involves a cybercriminal injecting malicious code into query submission forms to alter, delete, change, read, or add data.
Other potential cyberattacks an e-commerce business might encounter include:
* Phishing scams
* DDoS attacks
* Bots
* Cross-Site Scripting
* Spam
* Trojan horses
* Man in the middle attacks
However, you will be happy to learn repairing hacked websites is possible, as web specialists can clean an infected WordPress or Joomla site, reupload it to its hosting, and even provide security recommendations to safeguard your website. For example, you might need to add an SSL certificate, powerful firewall, or two-factor authentication, to name a few cybersecurity solutions.
Credit Card Fraud
According to Which?, credit card fraud accounts for an incredible 39% of UK identity fraud cases. Also, the fraud rate increased by 42% in 2021’s final quarter, proving it is becoming a major problem for both online and bricks and mortar retailers, as well as consumers.
The issue occurs when a criminal uses a stolen credit card to buy products or services at a store. For this reason, e-commerce companies must monitor their websites for potential signs of credit card fraud, such as different shipping information from the norm, inconsistent billings, or customers’ physical locations.
Choosing the Right Tech Partners
Many e-commerce brands will rely on various tech partners to power their operations, such as digital marketing agencies, inventory management solutions, or customer service outsourcing. However, the businesses you choose can make or break an online store’s success.
For instance, a poor marketing campaign could impact your e-commerce brand’s annual revenue, inventory issues can lead to disappointed customers, and rude customer service assistants will anger consumers.
Before hiring a company or investing in its services, you must ensure the brand’s values align with your business. Also, you would be wise to thoroughly research the brand to ensure it has a proven track record in its industry and many satisfied customers and will provide the services you need to grow and scale an e-commerce business.
Running an e-commerce store is not without its challenges. However, if you have a strong cybersecurity strategy, an effective web recovery plan, and take the time to choose the right tech partners, your brand could enjoy many successful years online.
