Privacy as a consumer issue in electronic commerce Research Paper

Privacy as a consumer issue in electronic commerce - Research Paper Example The work that follows is a research on privacy as a consumer issue in electronic commerce. Consumer privacy is an important aspect that businesses need to consider to preserve and retain their customers. Electronic commerce largely relies on the use of World Wide Web since most of its transactions use technologies like telephones, e-mails, and social media devices like mobile phones, which need a lot of privacy.Businesses or organizations willing to conduct online transactions need to create an environment that ensures consumer security.Electronic commerce is facing customer shortages because many consumers opt not to make online purchases. This is probably because of risks involved in electronic commerce such as loss of jobs, blocking of careers, and losses resulting from unauthorized access and inappropriate use of personal information (Frost). However, various countries like the United States lack regulations governing disclosure of how they use information gathered from online co nsumers, information that gives them freedom to use customers’ personal information. ... de Commission (FTC), failure of electronic commerce to attain its potential, results from lack of proper regulations on consumer privacy.Privacy concerns have led to losses in sales, a situation that has left the determination on whether companies should regulate online privacy issues on their own, or whether there is a need for the government’s intervention to the commission. To counter worries from the public over websites’ handling of personal information, the U.S Congress, local communities and state legislatures havereceived introduction of a number of bills concerning protection of customers’ private information (Frost).However, the rapidly changing technology acts as an obstacle to drafting the regulations.Imposing tight requirements on the internet, according to some legislators would adversely affect electronic commerce growth, and possibly its effect be greater than the fears people have on the loss of privacy. In past days, businesses using the interne t like for example, banks and insurance companies enjoyed the confidence in their business with customers, but nowadays the privacy lies in question. This results from the technological advancement that currently exists in the world. Apart from baking and insurance institutions, communication companies keep wide information about their customers’ details. This information reveals much information like consumer’s location at the time they use the service, the content of e-mails or texts sent, the visited sites, and information downloaded, among others (Frost). Due to lack of proper consumer privacy laws, these institutions can access consumers’ personal information and use it for their benefit. Lack of consumer privacy, accompanied by technological advancement has led to access of personal