Consumers aren’t thrilled about the way retailers are protecting their data.
According to a survey by Aite Group and ACI Universal Payments, 58 percent of consumers surveyed in the first quarter felt that financial institutions do a better job at protecting data than retailers or restaurants, large chain stores or even government agencies and law enforcement.
The survey involved responses from 6,159 consumers in 20 countries seeking their concerns about various types of financial fraud.
About 29 percent of global consumers do not trust stores to protect stored personal and financial information against hacking attempts and data breaches. Thirty-two percent said theft by a computer hacker is the greatest fraud risk.
The study also asked about prepaid cards. Countries where prepaid cards are used the most — such as India and China — report higher rates of experience with fraud issues. According to Michael Grillo, senior product marketing manager for ACI, who led the survey, use of prepaid cards includes shopping activity as well as use for reimbursement for health care, for example. The definition of prepaid in the survey did not include gift cards.
As for what consumers did like, 77 percent said they are “very interested” in being contacted about suspicious activity on their cards or accounts via a phone call, e-mail or text message. In addition, 73 percent said they preferred that their bank not post transactions to their card until they respond to a fraud alert.
According to Grillo, consumers in the survey were more comfortable with shopping online than they were shopping in a store and handing over their credit-card information. “While the recent data breaches haven’t helped, the numbers tell us there is a higher percentage of people who feel safer shopping online,” he said.
He noted one possible discrepancy, particularly when looking at how pervasive it has become for some consumers to use a mobile device for payment: “We also found in the first part of the survey that 20 percent of global card holders on average left their smartphone unlocked. One out of every five could have that phone taken away. Why do many consumers feel their mobile phone is safe so they don’t need to lock it down? You wouldn’t leave a purse or wallet unattended on a table. The smartphone [in many cases] contains the same confidential information.”
@fearofgod and @maxfieldla have teamed up on a pop-up installation. The store, located in the gallery space across from Maxfield’s Melrose Ave location, is the site of the brand’s House of God pop-up in which Fear of God founder @jerrylorenzo has created a church-inspired installation. A dozen vintage church pews sit in front of an LED screen playing 90s gospel singers in an effort to re-create an environment akin to a Southern Baptist Church, Lorenzo explained. Read more about the pop-up on WWD.com #wwdfashion (📷: Jennifer Johnson)
Known for his sleek, sophisticated American glamour, Norman Norell is the subject of an upcoming exhibition at @fitnyc. “Norell: Dean of American Fashion,” which runs from February 9 through April 14, will feature approximately 100 ensembles and accessories. His best work is exemplified by the designer’s glittering “mermaid” gowns frosted with thousands of hand-sewn sequins – like the one pictured. (📷: William Helburn) #wwdfashion
For pre-fall 2018, @balmain didn’t let go of the glitz. A crystal embroidered baseball jacket priced at around $40,000 hangs in the “couture” section of the brand’s first men’s pre-collection. Sporting the words “Balmain Army” across the back, the item took around two months to make. “When it was completed, it was like Christmas, it was like, ‘It’s done, it’s exactly what I wanted,’” said Balmain’s creative director @olivier_rousteing during a tour of the collection in a Paris showroom on Monday. #wwdfashion
Eighty degree temperatures and outdoor installations at the annual Art Basel Miami Beach called for bright, elevated beachwear. See more street style pictures on WWD.com. #theyarewearing #ABMB (📷: @lifeinreverie)
Following September’s emotional tribute to her brother Gianni, Donatella Versace wanted to bring the spring show’s deep sense of intimacy to her @versace_official pre-fall collection. Donatella found inspiration in Versace Palazzo in Milan and from Gianni’s opulent apartment. Archival patterns and new motifs were splashed on silk shirtdresses and fitted jersey frocks. See the rest of the photos on WWD.com. #wwdfashion
Demna Gvasalia continues to shake up the Paris fashion calendar — and experiment with new runway timetables for his @vetements_official brand. WWD has learned that Vetements plans to stage its next coed show for the fall 2018 season on January 19 during Men’s Fashion Week in the French capital. Details about the timing and venue have not been confirmed — stay tuned on WWD.com to catch the latest. #wwdnews (📷: @giovanni_giannoni_photo)
@zacposen's go-to holiday gift? Cookies! "I'll usually bake cookies and send them as a gift," said the designer, who recently released his cookbook "Cooking With Zac: Recipes from Rustic to Refined." Get the recipe for his Brown Butter-Chocolate Chip Cookies via link in bio 🍪🍪🍪 #wwdeye #cookingwithzac
For @monsemaison’s pre-fall 2018 collection, Fernando Garcia and Laura Kim honed in on the brand’s many signatures — men’s wear, which was tweaked and feminized through deconstruction, proportion play and lots of bare shoulders. See the rest of the photos on WWD.com #wwdfashion (📷: George Chinese)
On Friday night, @yohjiyamamotoofficial received the Design for Asia Lifetime Achievement Award in Hong Kong. The 75-year-old designer has been celebrated for many years and is best known for his dark and avant-garde tailoring. “In my long career, in design, architecture, [I’ve been to] so many parties, this is the very first time that I have such a warm feeling, I really appreciate this,” Yamamoto said. #wwdfashion (📷: @dominiquemaitre)