This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

87% Wouldn't Shop on Facebook

NEW YORK ( MainStreet) -- Hundreds of millions of people trust Facebook with their photos, correspondence and personal information. But they stop short of trusting the social network with their money.

That's according to a survey carried out by BillingViews, a Web site run by the billing industry consultancy Boreland House. Researchers spoke with 100 adults -- 50 men and 50 women, all professionals in tech-related fields -- to get their take on what sorts of interactions they're comfortable having with companies through Facebook. While the survey focused on consumers' interactions with a communications provider, their responses revealed a lot about how consumers view privacy and security on Facebook.
A survey of tech-savvy adults suggests that many people are unwilling to do their shopping through Facebook.

Specifically, a whopping 87% of respondents said they would not be comfortable buying something through Facebook, and 94% said they would not pay a bill through the social network. Skeptical comments by panel members included "I don't think I trust the security of Facebook to store credit cards" and "I'd complain and get a problem solved, but never buy something or pay a bill on Facebook."

That latter comment is particularly indicative of the general feelings of the panel. Many panelists said they were comfortable using Facebook for its intended purpose of communication -- the majority were fine using it to recommend a company or complain about one, and a little less than half said they would resolve a customer service dispute through Facebook. But apparently privacy and security concerns are enough to scare them off from actually making a monetary transaction.

It's perhaps with this in mind that few companies have actually made the leap into using Facebook to sell products and services. One of the few exceptions is Delta (DAL), which last year began allowing people to book flights through its Facebook fan page.

The one caveat to this survey is that everyone on the panel is a professional in a technology field, so they're not representative of Facebook users as a whole.

Security and privacy concerns don't just matter online. Read our roundup of what you should shred right now to protect your identity.

>To submit a news tip, email: tips@thestreet.com.

Follow TheStreet.com on Twitter and become a fan on Facebook.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
AAPL $110.96 -1.60%
FB $88.40 -1.20%
GOOG $605.14 -2.10%
TSLA $243.05 -2.40%
YHOO $31.64 -1.90%

Markets

Chart of I:DJI
DOW 16,165.65 -362.38 -2.19%
S&P 500 1,932.06 -40.12 -2.03%
NASDAQ 4,696.8210 -79.6870 -1.67%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs