Online shopping has undergone remarkable growth over the past decade due to the fact thatit is a
more inexpensive and convenient form of purchase than traditional shopping. Initially, however,
the move from one buying method to a more current one produced fear among customersregarding
the following: exposure of personal information, online fraud, inconsistency between requested
and desired product quality, unsuccessful shipping, etc. People purchase via the Internet for a
variety of reasons, including the opportunity to buy anything at any time without physically
visiting a store or the possibility to get the same goods at a cheaper price by comparing multiple
websites simultaneously. The goal of the study was to identify the variables that influence
consumers' willingness toengage in online purchasing. These were taken into consideration when
devising tactics to boost levels of satisfaction and trust. It specifically attempted to achieve the
following goals: 1.) To showthe business profiles of the online stores in terms of the following.
2.) To know the extent on which the online stores impose the above-mentioned safety and
security policies as part of risk management. 3.) To determine the frequency of occurrence of the
threats that hinder an effective risk management. 4.) To gather the remedies recommended by
the online stores to improve risk management. 5.) To know the effectiveness of the abovementioned recommendations as part of risk management. 6.) To enhance the risk management
program coined by the researcher as “CJLEnhanced Risk Management Program”. In this study,
the descriptive methodology was used. The main tool utilized to get data from the 150
respondents was a structured questionnaire. In order to supplement the responses provided on the
survey questionnaires, interviews were conducted at random with the owners, ITpersonnel, or
managers. The percentage, weighted mean, Likert scale, ranking, are the statistical tools used to
present, analyze, and interpret the data. The following were the most important findings: 1.) The
findings suggest that the implementation of secure log-in authentication, secured payment
processing, and technical training for employees indicates a strong commitment to risk
management. 2.) The findings showthat identity theft is the most frequent threat in online stores,
followed by data breaches and payment processing issues. By implementing measures to prevent
identity theft, such as secure login procedures and encryption of customer data, businesses can
INTERNATIONAL JOURNAL OF BUSINESS EDUCATION AND
MANAGEMENT STUDIES (IJBEMS)
A Peer Reviewed (Refereed) International Journal
Impact Factor 4.308 http://www.ijbems.com ISSN:2941-9638
Vol. 9. Issue 1. 2023
(September)
2
mitigate the risks associated with online transactions. 3.) The top three remedies recommended
are the use of a good collection method, credit history checking of customers, and changing
passwords regularly. These methods contribute significantly to risk management by protecting
customer information and preventing unauthorized access. 4.) Changing passwords regularly,
using good collection methods, and restricting access to data while enabling virus protection
from reputable vendors are proven to beeffective in ensuring safety and security in online stores.