A majority of consumers are willing to walk away from businesses entirely if they suffer a data breach, with retailers most at risk, according to Gemalto. Two-thirds (66%) are unlikely to shop or do business with an organisation that experiences a breach where their financial and sensitive information is stolen. Retailers (62%), banks (59%), and social media sites (58%) are the most at risk of suffering consequences with consumers prepared to use their feet.
“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,” says 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’re listening – failing to do so will spell disaster for the most flagrant offenders, as consumers take their business elsewhere.”
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