[BreachExchange] Shoppers blame retailers for security breaches

[Audrey McNeil]

http://www.chainstoreage.com/article/study-shoppers-blame-retailers-security-breaches

When it comes to security breaches, consumers are clear about who they hold
responsible.

According to a new study from retail services provider Interactions,
“Security Hacks and the Lasting Impact on Retailers,” 75% of consumers
believe that keeping shopper information safe is the retailer’s
responsibility.

Nearly half of all shoppers believe that a retailer could avoid a security
breach by investing in better technology. When asked about the other ways
to avoid security breaches, 43% of shoppers indicated the use of credit
cards with chip technology, 32% said stricter laws enforced against
hackers, and 14% said the use of mobile wallets.

The study also found that 43% of shoppers do not trust companies to keep
their personal information safe. Of these, 30% do not think companies
invest in enough security measures.

While consumers are ready to place the burden of protecting their data on
retailers, they have also become surprisingly accepting of the risk of
breaches. The study found that 64% of shoppers have accepted security
breaches to be part of the shopping process. Another 53% say that security
breaches are a risk they’re willing to take in exchange for convenience.

Consumers may say they accept the risks, but their behavior still punishes
retailers who suffer hacking attacks. Forty percent of shoppers avoid
retailers that have been hit by security breaches. For those who shop at a
retailer that has experienced a security breach, 39% spend less per trip
than before, 67% use cash instead of credit or debit cards, and 60% shop
online with one specific card designated to online purchases to monitor its
activity.

In addition, many consumers still alter their shopping behavior to minimize
the chances of a breach affecting them. Thirty-four avoid shopping online
and 50% avoid shopping on their mobile phones due to the fear of security
breaches.
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