Most UK and global consumers are willing to walk away from businesses that fail to look after personal data, with retailers most at risk, research shows
Seven out of 10 UK consumers and two-thirds, on average, around the world would stop doing business with a brand that suffers a breach of users’ financial or personal data. Retailers are most at risk globally, with 62% of respondents willing to walk away after a data breach, followed by banks (59%) and social media sites (58%), according to a survey of 10,500 consumers by digital security firm Gemalto.
“Businesses have no choice but to improve their security if they want to address frustrated consumers that don’t believe the onus is on them to change their security habits,” said Jason Hart, CTO, data protection at Gemalto.
“Social media sites, in particular, have a battle on their hands to restore faith in their security and show consumers they are listening. Failing to do so will spell disaster for the most flagrant offenders, as consumers take their business elsewhere.”
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