Covid proves a tipping point for digital business

Digital business
e-commerce
Eolas
by David Curtin
09 May 2022

Eolas Magazine – May 2022

The Covid pandemic has forced SMEs to view websites as dynamic sales enablers or points of sale. Now SMEs will need help with cybersecurity for their expanded digital presence.

The .IE Tipping Point report, Irish e-commerce and digital business in the post-Covid era, is the final report of a trilogy of research analysing consumer and SME behaviour and attitudes since the pandemic.

A tipping point has been passed. Consumers have fully embraced the convenience of online shopping.

new consumer behavious in irish e-commerce and Significant digital growth/dispute resolution/ tech revolution

In response, SMEs have been forced to adapt, digitally and increasingly attitudinally, transforming their static brochure websites into e-commerce hubs. There is also evidence that SMEs are not prioritising protection of customers’ data despite this being a big concern for individual consumers.

Cybersecurity is non-negotiable

In an era of high-profile cyberattacks, 75% of consumers are ‘very’ or ‘somewhat concerned’ about the security of their personal information when shopping online. However, six in 10 SMEs either do not take any precautions to protect sensitive customer data or do not know how to.

While it might be tempting for an SME to postpone investing in anything that doesn’t lead to a measurable return in the here and now, a cyberattack can be devastating and lead to permanent erosion of customer trust.

The HSE ransomware attack in 2021 showed how a small error can lead to the crippling of critical infrastructure. Similar incidents among businesses are increasingly common, yet most are entirely avoidable with the use of basic cybersecurity tools, such as antivirus software and a password manager.

Read the full article on Eolas Magazine.

David Curtin is our CEO.