I want to know what can be done from UX perspective that makes user feel safe to buy in an online store?
Is there any research that shows how user reacts to different design elements and how they makes they feel that they can trust in a website?
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Before the transaction make sure your site shows signs of trustworthiness.
Just after a transaction is made, you may want to consider adding an artificial time.
As subversive as this sort of design sounds, when used properly, consumers actually prefer the user experience of these white lies that take their time. In 2011, a team of Harvard researchers dubbed such phenomenon "the labor illusion."