A significant proportion of shopping has shifted from the high street to online and consumers part with more and more information about themselves in search of ever better shopping experiences. Meanwhile, the retailer is tempted to request more and more data in order to meet this desire.
The status of an online retailer's cybersecurity programme is probably not front of mind for most consumers, it's more likely to be who has the best price or who offers the best loyalty rewards.
But ecommerce sites of all sizes suffer breaches. Any retailer with a significant base of customers becomes a target and these businesses need to review their prevention and response approach to ensure that data can be protected appropriately.
Who knows, one day maybe protecting your customers personal data could become a differentiator that attracts or repels new customers, stranger things have happened...
The RPC research said: “The risks involved in data breaches are increasing in the retail industry, as retailers accumulate more and more personal information on their customers. “The rise of online shopping, loyalty programmes, digital marketing and offering electronic receipts in store mean that even a small multiple retailer will be gathering exactly the kind of data that hackers will be looking for.” Mr Drew said overhauling cyber security was a low priority at some retailers because they were already struggling with the costs of a rising minimum wage, rates increases and exchange rate falls.