Being a retailer is a very stressful job these days. Security must take into account more than just the people who lift products off of shelves and slink out of the store. Today, retailers face a much broader challenge regarding all aspects of security.
As competitors digitize in order to lower costs, digital becomes a veritable battleground. Gaining online customer loyalty means attracting as many people as possible with social media campaigns and always giving them the best deal possible.
On the other hand, physical stores provide the space product campaign. In order to be sure that the new connections are not expanding the exposed surface, these new connections are always placed below the lenses.
Of all the possible types of cyberattacks, retailers are especially exposed to those hunting for PII because it is easy to sell on the black market. Such data could be the source of various fines and legal responsibilities once the GDPR comes into effect on May 25, so cybersecurity in retail must focus in PII data and GDPR compliance.
We have started many projects in areas such as embedding security in the development life cycle, protecting data in storage and at rest (also for cloud data protection), data masking, and user rights.
For customers, cybersecurity (not only of their money, but also of their PII) can be a determiner of loyalty. Retailers who fail to provide adequate security in managing customer data will see a significant decrease in revenue because as per our DTI report 77% of customers favor stores that guarantee cybersecurity and data privacy.
Cyber-incident detection and response, much like chasing thieves, may well become second nature, but retailers have to understand that protecting data and securing applications is just as good at pre-empting the thieves. According to Capgemini’s recent DTI report on cybersecurity in retail, 44% of consumers are obsessed with data privacy. This is a significant proportion and should be taken into account by all retailers. It is evident that customers are demanding comprehensive protection of their privacy and data. and hence they question -Is it worth trusting my store?