Consumers shopping on e-commerce platforms trust them more than the companies selling their goods through those digital channels, according to a new survey by Chubb.

This trust gap is most evident among the segment of shoppers who have embraced social media commerce sites, the insurer said, with 85 percent reporting they trust social media marketplaces.

But when it comes to companies selling their wares on digital platforms, a significant majority of e-sellers don’t trust social media commerce sites when it comes to managing inventory (75 percent), handling refunds and returns (69 percent), shipping and fulfillment (67 percent), payment processing (65 percent), and security and privacy (58 percent).

The key findings were reported in “Crossing the E-commerce Trust Divide,” a global survey of consumers and e-sellers commissioned by Chubb and conducted by iResearch Services.

Of consumers who shop online through both e-commerce and social media platforms, three out of four report experienced financial fraud, and more than half (55 percent) have had payments lost due to glitches, the survey found.

More than two in five (42 percent) say they have frequently received damaged goods.

“Whether it’s on social media or on e-commerce platforms, the customer journey must be simple, easy and give the consumer confidence — their trust is fragile,” said Amy McNeece, senior vice president, Digital Consumer Partnerships for Chubb in North America. “Delivery issues, damaged products and online scams can all shatter consumer trust in an instant, and customer loyalty is critical in the age of digital commerce.”

The survey revealed regional differences, with consumers in Latin America purchasing from e-commerce platforms more frequently than those in North America, Europe and Asia.

“Latin America’s fast-paced online shopping reveals a savvy digital consumer,” said Gabriel Lazaro, executive vice president, and head of Digital for Chubb’s international general insurance business. “This has been driven by mobile and social media leapfrog behaviors during the last decade. The emerging middle-class consumer has access, thanks to e-commerce platforms, to a wider and broader range of services than through traditional channels.”

Payment security is of the utmost importance to consumers.

Nearly eight in 10 consumers globally say the security of the payment platform is their top concern.

Heightened trust in social media marketplaces is not limited to Gen Z, or women, the survey found.

Gen Z, millennials and Gen X tend to be more comfortable with social media commerce than with other sales channels.

Men tend to use social media platforms for shopping more than women by a gap of 61 percent to 31 percent.

Gen Z, the youngest age group surveyed, shop through social media at twice the rate of Gen X shoppers, the survey found.

Latin American consumers are the most frequent users of online stores among the regions surveyed.

One in four (25 percent) of Latin American respondents shop online several times a week — twice the rate of consumers in other parts of the world.

In addition, nearly three-quarters (74 percent) visit and purchase from e-commerce platforms at least several times a month compared to 62 percent of North American, 59 percent of European and 56 percent of Asian respondents.

Consumers surveyed indicated having insurance would increase their confidence in making online purchase, although price remains a factor.

Seven out of 10 consumers would like insurance coverage to protect purchases of electronics, home appliances, exercise equipment and clothing.

To protect those purchases, a majority say they would be willing to add one percent of the price of the items they buy, the survey found.

There is one area where consumers and e-sellers are aligned: they both want a more secure end-to-end shopping experience. “The availability of online insurance can contribute to building and maintaining trust,” said McNeece. “That’s particularly true for smaller businesses that need to think about how to build and protect their brands and get repeat customers.”