Retailers need consumer trust to grow.
Robust cybersecurity builds trust.
Retailers typically don't have the resources or the IT knowledge to implement robust cybersecurity so cybercriminals see them as easy targets. In addition, the large number of financial transactions they process and the prodigious amounts of personal information they hold, such as email addresses and credit card details, can be sold on the dark web for massive profits making them particularly attractive targets.
World's largest database
Retailers are soft targets for hacks
Retailers are exposed to a wide range of cyberattacks including POS attacks, web application attacks, supply chain attacks, and more. Recent studies show that nearly 1/4 of retailers have compromised assets that are under the control of malicious entities.
"Today's businesses may be skating on thin ice when it comes to potential consumer backlash from cyber breaches."
"62% of consumers are not confident about the security of their data with retailers."
"52% of people who have been victims of fraud said that the incident negatively impacted their view of the retailer."