In the News
Recently, social media platforms have become hotbeds for online shopping inspiration and purchases. In Pinterest is turning more of its window shoppers into buyers with the newest features, Kate Clark at TechCrunch discusses new structural changes within Pinterest that will allow users to have an easier experience shopping on the platform. Clark explains that the changes provide up-to-date prices, recommended products, and shopping shortcuts directly through each pin. Clark elaborates that Pinterest’s efforts to create shopping-minded users comes in an attempt to be competitive in a market where Facebook and Instagram already have such features.
Our Take
Online shopping has become somewhat of a hobby with its convenience and creative displays. Users are able to use platforms such as Facebook, Instagram, and now Pinterest to combine their social and free-time endeavors with the ability to browse and purchase new items. This ability capitalizes on a user’s impulse to buy an item that catches their eye, and often times, social media platforms utilize engaging and unique modes of advertisement to enhance this impulse. While this may not always be a bad thing and convenience is a highly appealing reason to utilize these online modes of shopping, impulse buying through third-party sites has security risks. Many shopping retailers are legitimate; however, others may not be or may not have the same levels of security protecting the personal information one provides when making a purchase online.
Recommendations
How can you protect your privacy and finances when shopping online?
- Be aware of default settings on mobile apps and turn on privacy settings as needed
- Don’t reuse your account passwords, and take advantage of multi-factor authentication whenever possible
- Be wary of clicking on arbitrary links—utilize reputable and verifiable platforms for online browsing and purchases
- Minimize the number of accounts that have direct access to your bank account or card numbers
- Track your finances closely to notice suspicious transactions before they become dangerous