What employers need to know about online holiday shopping

Monday, November 19th, 2012

It’s that time of year again. Christmas is coming, and it’s time to find the best deals and research the best products. And where does everyone go these days to find the deals and do their product research?  You guessed it. The Internet.  Should employers be concerned with this? Absolutely!  Online shopping results in significant productivity losses, excessive bandwidth usage and serious threats to cybersecurity.

Lost productivity can mean big bucks for your company. A recent study by Comscore found that 50% of all online holiday purchases occur during working hours. For the companies in the study, the typical productivity loss during the short holiday season averages $15,000.

Adding insult to injury, the additional traffic will lead to network slowdowns due to significant increases in bandwidth usage. Just as they did in previous years, online retailers are now preparing bandwidth-hogging promotional videos to help sell their products. Remember last year?  On Cyber Monday 2011, video views increased by 897 percent over the previous year. And now the number of views this coming Cyber Monday are expected to exceed last year’s. So, it is critical to prevent vital bandwidth from being consumed by non-productive Web-use.

Contributing to the danger, hackers and identity thieves are very aware of these online shopping patterns. They are fully prepared to deceive online holiday shoppers with very appealing schemes – “deals” that require them to click a link to special discount or filling in personal information before they can get the deal. These acts can lead to malware infection or pose significant risks to your organization’s network and sensitive data.

The peak period for all these holiday-related problems is coming soon. The Comscore study tells us that 80% of all annual online purchases occur between Nov 26th (CyBer Monday) and Dec 14th.  So now is a good time to remind your employees of your organization’s Web-use policy and make sure you have the right protections in place.

Dennis McCabe, President of Wavecrest Computing, recommends that companies monitor and/or filter employee Web-use to better protect themselves from lost productivity, excessive bandwidth usage and security threats. His company is ready to help them do this.  Easy to use and priced to fit any budget, Wavecrest products are tailored to address all aspects of Web-use management reliably and cost-effectively.

About Wavecrest

Since 1996, Wavecrest Computing has developed, marketed, and supported a spectrum of innovative Internet usage monitoring, analysis, filtering, and reporting solutions. Their products help all types of organizations manage employees’ online activities, ensure compliance with acceptable use policies, preclude legal liability and prevent bandwidth abuse. Founded 15 years ago, their client base has grown to more than 3,000 organizations, including many prominent Fortune 500 companies and high-profile government agencies.