Cost of a data breach: Retail costs

Whether it’s online or brick-and-mortar, every new store or website represents a new potential entry point for threat actors. With access to more personally identifiable information (PII) of customers than most industries, bad actors perceive retail as a great way to cash in on their attacks. Plus, attackers can duplicate attack methods more easily since retailers share similar cybersecurity infrastructure.

The good news for retail is that the cost of a data breach in the sector remains low compared to many industries. However, this does not mean cybersecurity shouldn’t be a high priority. For retail, intangible costs like company reputation are often more important.

itim Group plc (LON:ITIM) is a SaaS-based technology company that enables store-based retailers to optimise their businesses to improve financial performance and effectively compete with online competitors.

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