Despite Current Market Conditions, VeriSign Predicts Record Number of VeriSign Secured Seals Will Be Seen This Cyber Monday
MOUNTAIN VIEW, CA (Marketwire) - When consumers go online this Cyber Monday for one of the busiest online shopping days of the year, they'll spot more than great bargains. On that single day they also are expected to see a record number of instances of the VeriSign Secured® Seal, the most recognized trust mark on the Internet.
Last year, more than 150 million VeriSign seals were viewed on Cyber Monday. As VeriSign's customer list of some of the most trusted sites on the Internet grew in 2008, and as online retail sales this holiday season are expected to increase a modest 12 percent this year(1), VeriSign predicts Cyber Monday 2008 will surpass previous records set for display of the online trust mark.
At a time when consumers are closing their wallets and scrutinizing their holiday spending, recent reports suggest that more people will be shopping online for bargains this season. November 19 survey results from Nielsen Online indicates that 36 percent of respondents, up from 32 percent in 2007, said they would spend a majority of their holiday budgets online this year(2). In addition, Forrester Research found that 48 percent of consumers they surveyed this fall felt they could find the best bargains online(1).
"Even in today's challenging economy, more consumers than ever are expected to take to the Web to start their holiday shopping in earnest — and much of that activity will kick off on Cyber Monday," said Tim Callan, vice president of product marketing at VeriSign. "Those who spot the VeriSign Secured Seal will immediately recognize they have reached a site that has made consumer security a priority. In these uncertain times, that kind of trust is invaluable."
The VeriSign Secured Seal, which includes the widely recognized "VeriSign check mark," is a common fixture on Web pages of leading online merchants, financial services providers and other business. The seal indicates that the Web page is secured by VeriSign® Secure Sockets Layer (SSL) Certificates and is recognized worldwide as a symbol of trust and online security.
Online retailers implementing VeriSign SSL Certificates have measured uplifts in online transactions between five percent and 87 percent. Major retailer Overstock.com has reported reducing online shopping cart abandonment by more than eight percent using VeriSign certificates. Virtual Sheet Music, Inc., the world's first online distributor of digital sheet music, saw sales increase 31 percent after implementing VeriSign SSL.
To see the number of seals viewed on Cyber Monday, visit Tim Callan's blog at http://blogs.verisign.com/ssl-blog/ after December 2.
VeriSign is the most respected and trusted SSL authority on the Web. According to TNS Research(3), 79 percent of U.S. online shoppers are familiar with the VeriSign Secured Seal, a larger percentage than any other Internet trust mark. Not surprisingly, 90 percent of the Internet Retailer 500, more than 95 percent of the Fortune 500 and 96 of the world's 100 largest SSL-using banks secure their sites with SSL Certificates sold by VeriSign(4).
- October 22, 2008; Forrester Research: http://www.forrester.com/ER/Press/Release/0,1769,1233,00.html
- November 19, 2008; Nielsen Online Survey: http://blog.nielsen.com/nielsenwire/wp-content/uploads/2008/11/nielsenonline_holidayshoppingnov2008.pdf
- August 2006; TNS Research: http://www.verisign.com/static/013506.pdf
- Includes VeriSign's subsidiaries, affiliates and resellers.
VeriSign, Inc. (NASDAQ: VRSN) is the trusted provider of Internet infrastructure services for the networked world. Billions of times each day, VeriSign helps companies and consumers all over the world engage in communications and commerce with confidence. Additional news and information about the company is available at www.verisign.com.
Statements in this announcement other than historical data and information constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve risks and uncertainties that could cause VeriSign's actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, the uncertainty of future revenue and profitability and potential fluctuations in quarterly operating results due to such factors as the inability of VeriSign to successfully develop and market new products and services and customer acceptance of any new products or services, including VeriSign SSL solutions; the possibility that VeriSign's announced new services may not result in additional customers, profits or revenues; and increased competition and pricing pressures. More information about potential factors that could affect the company's business and financial results is included in VeriSign's filings with the Securities and Exchange Commission, including in the company's Annual Report on Form 10-K for the year ended December 31, 2007 and quarterly reports on Form 10-Q. VeriSign undertakes no obligation to update any of the forward-looking statements after the date of this press release.
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