Cyber attacks put off Black Friday shoppers

Cyber attacks put off Black Friday shoppers

Authored by QBE Head of Media Relations and Content Sandra Villaueva

A QBE Insurance survey has found that more than half (54%) of Black Friday shoppers would give a wide berth to an online retailer that had had a date breach, highlighting how seriously shoppers are taking cyber security ahead of what is predicted to be a bumper Black Friday.

With the cost-of-living crisis likely to boost Black Friday shopping, online retailers need to up their cyber security game to protect consumer data and confidence. If not, they risk losing business – 76% of Black Friday shoppers polled said that the cyber security of an online retailer mattered to them

Erica Kofie, Head of Cyber Proposition for QBE Europe, says: “It is crucial that online retailers are prepared for cyber attacks this Black Friday or risk losing customers. Having a strong cyber security policy is more important than ever considering the ever-evolving complexity of cyber attacks. Businesses that fail to demonstrate a strong enough cyber policy could even struggle to secure cyber insurance, leaving them vulnerable and less protected from cyber attacks.”

Results from the survey include:

• 76% of Black Friday shoppers said that the cyber security of online retailers is important to them
• 54% of Black Friday shoppers said that if they knew an online retailer had experienced a data leak they would be less likely to shop there
• 55% of Black Friday shoppers said that a strong cyber security published on an online retailer’s website would make them more inclined to shop there
• 38% of Black Friday shoppers said that they would be more likely to shop with an online retailer if they had successfully prevented and managed a cyber attack

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For the survey, Opinium Research polled 2,000 UK adults from 10 to 14 November (online), including 1,301 Black Friday shoppers. The results have been weighted to be nationally representative.