More than 60% of consumers would avoid a retailer post-breach
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There are observable trends in how consumers behave after an organization is breached, according to a report by Cyberint. This report reveals that consumers are less likely to engage with an organization that has been recently breached, emphasizing the importance of security in business.
In the case of retailers, surveyed consumers reported an inclination to avoid shopping at locations that had recently experienced a breach. More than 60% of retail sector consumers expressed that they would likely avoid shopping at a recently-breached retailer. This percentage increased among high-income consumers, with 74% indicated an inclination to avoid breached retailers.
In the finance sector, the percentages of lost or hesitant customers increases. 83% of surveyed consumers reported that they would think about discontinuing the usage of finance apps in the event that data was compromised.
The report underscores the importance of security measures for businesses, as data breaches can dissuade customers from returning. Furthermore, the survey indicates that proactive cybersecurity approaches are essential to protect an organization’s reputation and customer retention.
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