Survey: More than half of retailers recognize increased cyberattack risk during holidays
Cyberattacks are expected to rise during the holiday shopping season, putting retailers on edge.
That’s according to a new survey from managed security services provider VikingCloud, which found that 80% of retailers have already experienced a cyberattack in the past year, with nearly all hit multiple times. More than half (52%) report being at increased risk during the 2024 holiday shopping season – more than at any other time during the year.
The most common cyberattacks during the holiday season include supply chain attacks (52%), data breaches (48%), phishing attacks (32%) and denial-of-service (DoS) attacks (32%). According to retailers, cyber risks increase due to the increase in in-store and online shoppers, internal cyber workforce challenges, and the targeting of business-critical point-of-sale (POS) devices.
VikingCloud’s survey noted that cyber workforce challenges are the biggest cybersecurity hurdle during the holiday season. Two of the top four cyber challenges retailers report directly relate to an overextended workforce caused by employee shortages and turnover (50%), and an influx of seasonal employees with limited cybersecurity training (46%). The number one challenge retailers report is limited internal IT resources to keep up with modern-day cyberattack methods (52%).
Human error also is a leading cause of data breaches, which is often linked to inadequate training, said VikingCloud. Nearly eight-in-10 (78%) seasonal employees do not receive social engineering training, while more than half (56%) lack safe internet and social media usage guidance. Another fifty-six percent do not receive mock email phishing training.
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“The ripple effects of cyberattacks can deeply impact customer trust and brand reputation,” said VikingCloud. “After a breach, 53% of retailers report damage to their reputation, potentially driving customers to competitors. Unfortunately, in an attempt to protect brand image, 44% of retailers report having withheld incident details from the public. This theme of underreporting and lack of transparency leaves consumers in the dark about potential risks, raising concerns about whether brands are truly safeguarding their data.”
