Akamai: UK online shoppers ready to switch retailers over cybersecurity

Cybersecurity is a key dampener of British consumers’ confidence in the online retail sector, according to research from Akamai.

The company surveyed 2,171 people.

It found that 59% of those who shop online would ditch a retailer if they were the victim of a cyberattack and 49% don’t trust retailers to keep their personal details safe.

Consumers are becoming accustomed to constant cybersecurity threats, with 64% of those shopping online having experienced an attack attempt in the last year.

This is reflected in recent global data from the Akamai Intelligent Platform showing that web application and API attacks in the retail sector have increased by 301% between July 2021 and July 2022.

46% of respondents say they think it is likely their personal data will be exposed in an attack in the next 12 months.

70% of online shoppers said they assess how secure a retailer’s website looks before buying and 91% would abandon their shopping cart if a website did not appear secure enough.

59% also would tell their friends to stop shopping with a retailer if they had been the victim of a cyberattack. 79% of people would rather protect their personal data than receive a more personalised online experience. 

When asked how they expect retailers to tackle cybersecurity, 76% of Brits expect retailers to invest heavily in data protection and security as opposed to educational campaigns or communications (37%).  

“With cyberattacks on the rise, it is more important than ever for retailers to ensure their customers feel safe and secure while shopping online,” says Richard Meeus, Director of Security Technology and Strategy EMEA at Akamai.  

“At this time of economic uncertainty, many retailers will be tempted to cut budgets. This research shows that cybersecurity is one area where they cannot afford to cut corners. Consumers are ready to walk out on retailers over bad cybersecurity.”