The trend of online shopping has grown exponentially over the past few years, and odds are, it is only going to grow. If we talk about India, it has close to 10 million online shoppers. As of 2013 the country’s e-commerce market was worth $16 billion; 88% more than what it was in 2012.
Although, Indian e-commerce does not equate to those in the USA or UK, it is growing at an enormous rate. And growing at a higher rate is its Internet user base, which is 150 million as of August 2013. Thus, the increasing Internet penetration will only boost the e-commerce industry giving even bigger avenues to online retailers to grow and expand. However, there might be a roadblock to this when it comes to small and medium enterprises.
The roadblock might arise due to the following facts:
- Most customers prefer shopping with large and well-established businesses because they are more secured and prepared against cyber attacks.
- Most customers are skeptical about their data security when it comes to SMEs.
- In most cases, large enterprises may not consider getting into a partnership with SMEs because of their poor IT security infrastructure.
To make a long story short, customers will be more willing to do business with an online retailer if they know that their data and transaction are safe with it. All it takes is one data breach for a business to lose loyal and potential customers, hard-earned reputation, and foothold in the market.
It may be a bad analogy, but small and medium enterprises that overlook robust and multilayered IT security can be compared to the young or ill animals in herd of herbivores that are constantly being stalked by predators (cyber crooks).
So, coming to the crux of this entire discussion, web-enabled SMEs have a huge potential to leapfrog their competitors, if they start focusing on their IT security. In short, better IT security means better business.
Quick Heal End Point Security Solution and Unified Threat Management Solution have been created not only to provide complete IT security to enterprises but to help them boost their productivity, as well. You can request a free trial or demo for any of these security solutions here.