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Individual Strategies for Managing Purchase Risk
Do your research. Scrutinise online reviews when considering purchasing something. For example, If the review is filled with nothing but glowing praise or complete hatred, it may be worth a closer look. Pay attention at facts more than opinions. This includes using tools that compare prices and reviews. Remember to include the total price (delivery, GST, import taxes and other fees).
Privacy settings. Utilise privacy setting on your social media accounts to increase privacy of your purchases and purchase data.
Hidden costs. Make sure that you always double-check any purchases and transactions for hidden costs and fees. For example, is the app free or only free on its 10 day-trial? Is freight included? What sort of processes and costs are involved when returning items?
Banks and financial institutions.
Go onto your financial institutions’ website and explore their tutorials on online banking. Alternatively, go into a branch and ask for assistance and take notes
Remember to regularly check your accounts for unusual activities
If you make a mistake or notice something unusual in your bank account – go to your financial institution immediately
PayPal. Use PayPal for added security as you don’t share your financial details with the provider. PayPal also reimburses you when your goods are not delivered. Alternatively, arrange a low limit credit card dedicated for purchasing online products.
Prepaid cards. Another safe option for online purchases are prepaid cards from supermarkets.
Back up your data. Ensure you have backup of your data in the cloud or on a hard drive.
Keep an old phone handy. Consider keeping an older smartphone around just in case you lose your main phone. While you wait for a new phone - the provider can provide you with a new SIM card. This will help you continue receiving messages, participating in double authentication and other practicalities.
Relational Strategies for Managing Purchase Risk
Seek recommendations. Read reviews and seek advice from others who have more ICT knowledge than you or are more used with those stores and environments.
Research. Actively google the store name and customer reviews. Do your due diligence to make sure the store, the product and the online channel is legit.
Banking and financial institutions. If you make a mistake or notice something unusual in your bank account – go to your financial institution immediately.
Share your knowledge. Share your online shopping experiences with your family and friends. Share advice and learn from their experiences.
Communities. Consider creating with a group of friends a trusted database of sites that are trustworthy and efficient in delivering online goods.
Strategies to Managing Perceived Purchase Risk
Perceived purchase risks are aligned both with the person’s ICT ability and the person’s confidence to overcome the perceived risk when engaging with the digital device. There are individual strategies people can do themselves to manage this risk, as well as relational strategies which consider the role of social influence on a person’s ability to try new things and interact with ICT.
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Other potential risks that Dawn is facing:
will this digital device work the way I want it to – it includes forgetting instructions and managing passwords.
concerns about feeling incompetent, getting frustrated and being overwhelmed with digital technology.
fears focused with online payments, losing privacy, identity theft and automatic payments.
fear of buying too much online and the costs with upgrading software and devices.
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