Almost 20% of Consumers Would Avoid a Retailer After a Breach
Consumers are wary of the increased frequency of cyber-attacks against retailers, and many are ready to walk away from their favorite retailers if a breach occurs. According to the 2016 KPMG Consumer Loss Barometer, in surveying 448 consumers, KPMG found that 19 percent said they would stop shopping at a retailer that had been a victim of a cybersecurity hack, even if the company took the necessary steps to remediate the issue.
In addition to those who would abandon the retailer entirely, 33 percent of the consumers indicated that fears of further exposure of their personal information would prevent them from shopping at a breached retailer for at least three months. When asked which factors most likely contribute to a customer not returning – or delaying a return – to the store, consumers surveyed cited a lack of a solid plan to prevent further attacks as a top factor.