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Data Security in Retail

In 2014, more than 1 billion accounts of personal information were illegally accessed through data breaches.1 Of these data breaches, over 200 million of those accounts came from major retailers, resulting in one of the largest known credit card data thefts occurring to a single targeted victim to date.2 62% of brick-and-mortar consumers, as well as 60% of merchant website consumers, feel that retailers aren’t doing enough to protect credit card information.3 Thus, to keep your customers shopping and reassure them that their data is safe, invest in stricter security measures. Shockingly, most data breaches that occur within the retail industry are due largely in part to human-caused security errors.4 When companies could have taken steps to better protect their customers, or knew they had vulnerabilities within their system, no actions were taken. Thus, to prevent customers from avoiding your business altogether and to improve your security measures, three major retail industry trends must be addressed that will help you understand how to avoid becoming a data theft statistic.

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