Amazon.com, Inc. (AMZN) Must Restore Customer Confidence In Its System: Ronn Torossian

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In an article on Business2Communitity, Ronn Torossian said that Amazon.com, Inc. (NASDAQ:AMZN)’s latest data breach depicts problems that are coming to the online retail world. Recently, the Anonymous group hacked in Amazon.com, Inc. (NASDAQ:AMZN) private data and leaked user data and information which included passwords credit card information and names. Amazon.com, Inc. (NASDAQ:AMZN) core business lies in online retail. Billions of people around the world shop products from Amazon. Payments are made online through credit cards and other information. If Amazon.com, Inc. (NASDAQ:AMZN) becomes the victim of hacks, ecommerce will face a massive threat in 2015.

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The paramount threat Amazon.com, Inc. (NASDAQ:AMZN) will face in 2015 has to do with security. The company is already in trouble. Its Fire Phone was a failure. The company is now facing issues regarding its product strategy. The online real opportunity for Amazon.com, Inc. (NASDAQ:AMZN) is its Cloud services and core ecommerce business. The source said that even small hacks and data breaches can shake up the confidence of Amazon customer base. The user confidence is the single most vital factor in maintaining the trust.

Amazon.com, Inc. (NASDAQ:AMZN)’s other threat is Alibaba. Chinese e-commerce behemoth has landed the US. Amazon will have to craft out some strategy to outplay Jack Ma.

Torossian labels this latest problem as Public Relations Fallout for Amazon.com, Inc. (NASDAQ:AMZN). He thinks that Amazon will have to prove to its users that its system is still safe and they can make payments and buy products online without any problem. Year 2015 will be full of challenges for Amazon.com, Inc. (NASDAQ:AMZN).

Ken Fisher’s Fisher Asset Management owns over 2.4 million shares in Amazon.com, Inc. (NASDAQ:AMZN).

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