Retail vendors are not immune to data breaches. This is a well-established fact. We are all very aware of bad actors and their ability to scale their havoc across organizations of almost any industry.
What is significant for retailers is the long term impacts it has to future buying behaviors of their current and future customers. Often, their ability to grow future revenue and garner customer trust can negatively impact retail companies more than the actual breach itself.
My colleague, Gil Schaham, wrote a great LinkedIn post that really drives this home highlighting the recent string of high-profile companies publicly reporting being hacked and how the immediate breach not only significantly impacts business, it can influence buying behavior. I thought it would be worthwhile to share his findings in the NetApp community!
𝐎𝐧𝐥𝐢𝐧𝐞 𝐬𝐡𝐨𝐩𝐩𝐢𝐧𝐠 𝐬𝐡𝐨𝐮𝐥𝐝 𝐛𝐞 𝐞𝐱𝐜𝐢𝐭𝐢𝐧𝐠, 𝐧𝐨𝐭 𝐚 𝐥𝐞𝐚𝐩 𝐨𝐟 𝐟𝐚𝐢𝐭𝐡 𝐰𝐢𝐭𝐡 𝐲𝐨𝐮𝐫 𝐜𝐫𝐞𝐝𝐢𝐭 𝐜𝐚𝐫𝐝 𝐝𝐞𝐭𝐚𝐢𝐥𝐬. 𝐑𝐢𝐠𝐡𝐭?
𝗧𝗵𝗲 𝗡𝗼𝗿𝘁𝗵 𝗙𝗮𝗰𝗲 confirms a recent data breach. A recent BBC report reveals retailers who have been hit by cyberattacks and how consumers are increasingly anxious about their financial info when shopping online for retail and consumer goods. This wake‐up call for industry leaders comes with stark numbers and an urgent reminder: digital security now matters more than ever. 🚨
When breaches occur, retailers face mounting economic and operational risks. Without robust cybersecurity, fraud losses can surge with shoppers 𝐚𝐝𝐦𝐢𝐭ting 𝐭𝐡𝐚𝐭 𝐭𝐡𝐞 𝐟𝐞𝐚𝐫 𝐨𝐟 𝐭𝐡𝐞𝐟𝐭 𝐢𝐬 𝐫𝐞𝐬𝐡𝐚𝐩𝐢𝐧𝐠 𝐭𝐡𝐞𝐢𝐫 𝐛𝐮𝐲𝐢𝐧𝐠𝐝𝐞𝐜𝐢𝐬𝐢𝐨𝐧𝐬. Every click is a vote of trust, and a compromised transaction undermines both brand reputation and bottom‐line revenue.
Investing in ransomware protection isn’t an optional expense—it’s a strategic growth accelerator. Businesses that fortify their data defenses enjoy enhanced customer loyalty and increased operational efficiency, gaining a clear competitive edge. The average cost of global data breaches has exceeded $5M per incident, underscoring why cyber resilience is a non‐negotiable investment priority.
Inspired by insights from leading industry experts, the call to action is crystal clear: protect customer data to secure your company’s legacy. Transform every secure transaction into a building block of trust and profitability. Robust cybersecurity is no longer a tech issue—it’s a core business strategy that drives long‐term value. 🔒
Why risk eroding customer trust when a secure checkout costs only a fraction of potential fraud losses? Step up, invest smartly, and lead the charge into a digital era where every secure interaction testifies to excellence; turn cybersecurity into your most valuable asset and champion a future where trust and innovation drive lasting success.
Did you know NetApp can increase your security confidence with a single control plane that can intelligently coordinate and execute a comprehensive workload-centric ransomware defense? Want to learn more? It’s just a few clicks-away with our free trial!
