Cyber Monday - will cyber-attack concerns result in a wash-out for retailers?

With Christmas only four weeks away, consumers looking for a bargain are now gearing up for ‘Cyber Monday’ – the online version of Black Friday. But will they be put off by on-going high-profile cyber-attacks?

Commenting on the forthcoming Cyber Monday, Sheila Pancholi, Technology Retail Partner for RSM, said:

‘I think consumers will be more cautious about shopping online this year following the recent cyber-attacks on well-known retailers. More than ever, businesses need to ensure that they make adequate investment in their IT systems so as to maintain operational resilience and safeguard consumer data. We know that last year a number of well-known retailers’ systems failed due to them simply being overwhelmed by the sheer volume of on-line orders.

‘Consumers may have strong brand loyalty, but retailers will find this quickly diminishes if confidence is lost in their ability to maintain effective systems and strong security defences’