How to Shop Smarter this Cyber Monday 2023

As the calendar flips to the end of November and Thanksgiving now behind us, shoppers are gearing up for the biggest online shopping event of the year: Cyber Monday. However, In 2023 this day is not just about snagging the best deals; it’s also about outsmarting cybercriminals. With a spike in online shopping and more personal data than ever out on the internet, the risks of digital fraud occurring is even higher, making it crucial for consumers like you and I to safeguard our personal and financial information.

The convenience of online shopping is undeniable, but it often comes at the cost of security. Luke Secrist, CEO of BuddoBot, a team of professional hackers, emphasizes the importance of being vigilant. According to Secrist, “The biggest mistake people make when shopping online is not controlling their digital footprint. Everything you put out there could potentially be stolen or breached.”

So, how does one enjoy the perks of Cyber Monday while staying safe? Here are some expert tips from BuddoBot to navigate this online holiday securely:

#1. Manage Your Digital Footprint:

It’s essential to be aware that some of our data is likely already compromised. The key is to actively work on reducing what we put out there. Start with something as simple as your email. Secrist suggests, “Create a non-descriptive or unidentifiable email address for shopping. This not only helps organize those pesky spam and marketing emails but also keeps your primary email secure.”

#2. Be Cautious with Questionnaires and Password Recovery Options:

It’s a common practice to use personal information for password recovery options or questionnaires. However, this could be a goldmine for hackers. “Don’t use actual information,” advises Secrist. “Create a set of memorable yet fictional answers for things like your favorite movie or the name of your nephew.”

#3. Rethink Storing Credit Card Information Online:

The convenience of saved payment information can be tempting, but it poses a significant risk. “Use express checkout options like Apple Pay or PayPal,” recommends Secrist. “It might be slightly more time-consuming to re-key payment information, but it’s a safer option than allowing a vendor to store it.”

#4. Create a ‘Shopping Identity’:

To further minimize your digital footprint, consider creating a “shopping identity.” This involves using a separate email and possibly even a dedicated phone number for online shopping. This layer of separation between your shopping and personal life can significantly reduce the risk of your primary data being compromised.

#5. Maintain Vigilance with New or Unknown Vendors:

Cyber Monday deals can be enticing, especially from new or unfamiliar vendors. However, caution is key. It’s important to verify the authenticity of the vendor. Look for reviews, check their customer service policies, and be wary of deals that seem too good to be true.

This year, consumers are expected to spend an average of $567 during the Black Friday-Cyber Monday events, reflecting a 13% increase from last year, according to recent findings by Deloitte. With 84% of shoppers confident about their budgets and planning to spend the same or more compared to their initial budgets set in September, the stage is set for a bustling digital marketplace.

Participation in the Black Friday-Cyber Monday events remains robust, with eight out of ten people planning to engage in these shopping days. Notably, Millennials are projected to contribute significantly to this spending spree, accounting for 43% of the expenditure, with more than two-thirds indulging in self-gifting.

This notable uptick in online shopping activity emphasizes the importance of cybersecurity adoption. While Cyber Monday offers enticing opportunities for consumers, it also heightens the potential for digital threats. As individuals partake in these globally celebrated shopping events, adopting and maintaining robust cybersecurity measures no matter how small becomes increasingly crucial. Here’s to a safe and thrilling shopping experience this Cyber Monday!