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Research Outline
Prepared for Pavani Y. | Delivered October 22, 2019
Changing Consumer Behaviour and Technological Advances : Global Commerce Challenges
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Goals
To find out quantitative evidence describing global commerce challenges retailers and financial institutions are facing in a constantly changing environment due to consumer behavior and technological advances.
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Early Findings
Rapid Expansion of Internet
As per the
2018 Global Digital
suite of reports from We Are Social and Hootsuite, out of the total global population of 7.593 Billion, 53% i.e. 4.021 Billion were internet users.
In terms of specific usage, 3.196 Billion i.e. 42% of the world population were
active social media users
, and 2.958 Billion or 39% of the population were
active mobile social users
.
Globally, the number of internet users
grew by 7 percent year-on-year
in 2018 with Africa experiencing the fastest growth rate with the number of internet users across the continent increasing by more than 20 percent year-on-year.
In terms of the
share of web traffic by device
in January 2018, Laptops and Desktops were at 43% with a negative growth rate of 3% year-on-year. Mobile phones had the
largest share of 52%
with a
positive growth rate of 4%
year-on-year and Tablet devices had a share of 4% with a significant negative growth rate of 13% year-on-year.
Although
other devices
occupied a minor share of 0.14% of the overall web traffic, their year-on-year growth rate was significantly high i.e. 17%
According to Vernon Turner, senior vice president of enterprise systems at IDC, approximately
80 billion devices
will be connected to the Internet by 2025.
The total amount of
digital data created worldwide
would mushroom from 4.4 zettabytes in 2013 to 44 zettabytes by 2020 to
180 zettabytes by 2025
Risks of Cyber-Threats
As estimated in 2019,
43% of small businesses
are
severely affected
by data breaches and cyber attacks, while only
14% of small businesses
rate their ability to mitigate cyber risks, attacks, and vulnerabilities as
highly effective
.
Cyber attacks are the primary reason for around
60% of small companies
to go out of business
In terms of costs associated with cyber-threats,
each successful cyber attack
costs over $5 million or $301 per employee.
Overall, cybercrime is projected to cause damage of over
$6 trillion annually by 2021
, up from $3 trillion in 2015.
Around
94% of targeted emails
use malicious file attachments as the payload or infection source, while
91% of cyberattacks
begin with a "spear phishing" email which is an increasingly common form of phishing that makes use of information about a target to make attacks more specific and personal.
About
30% of the phishing emails
are opened by the users and 12% of those users click on the infected link or attachment.
In addition to this public search, we scanned our proprietary research database of over 1 million sources and were unable to find any specific research reports that address your goals.
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