GITNUX MARKETDATA REPORT 2024

Cybersecurity In The Luxury Industry Statistics

Cybersecurity threats in the luxury industry are increasing, with a reported 30% rise in cyberattacks in the past year alone.

With sources from: radware.com, capgemini.com, helpnetsecurity.com, .deloitte.com and many more

Statistic 1

44% of luxury brands reported a loss of brand value due to data breaches.

Statistic 2

The luxury industry faces an average of 1,000 cyber attacks per day.

Statistic 3

In 2020, only 53% of luxury brands had actively protected their online presence through cybersecurity measures.

Statistic 4

Nearly 70% of luxury brands suffered a data breach in 2019.

Statistic 5

63% of luxury brands have been a target of cyber criminal activity in three or more separate instances.

Statistic 6

As of 2019, online sales accounted for 12% of total sales for luxury goods, making cybersecurity a key concern.

Statistic 7

Over 55% of luxury brands do not have a formally established cybersecurity incident response plan.

Statistic 8

A study found that luxury brands were the third most targeted industry for phishing attacks.

Statistic 9

68% of luxury shoppers in China, the world's largest luxury market, say they’re concerned about data privacy.

Statistic 10

Phishing attempts accounted for 44% of all cyber threats faced by luxury brands.

Statistic 11

E-commerce, which makes up about 10% of luxury sales, witnessed a 57% rise in cyber attacks in 2020.

Statistic 12

60% of luxury companies will increase spending on digital defenses in the next three years.

Statistic 13

58% of luxury brand customers indicated that a data breach would highly affect their trust in the brand.

Statistic 14

72% of cyber incidents experienced by luxury brands are perpetrated by outsiders.

Statistic 15

Nearly 43% of all cyber crimes are targeted towards small businesses including independent luxury brands.

Statistic 16

The average time to identify and contain a breach in the retail industry, including luxury brands, is 279 days.

Statistic 17

Cyberattacks cost luxury businesses an average of $200,000 per attack.

Statistic 18

Approximately 88% of luxury consumers want transparency about how their personal data is being used.

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In this post, we explore the significant cybersecurity challenges faced by luxury brands in today’s digital landscape. With alarming statistics revealing the prevalence of data breaches, cyber attacks, and the critical need for cybersecurity measures, it is evident that the luxury industry is a prime target for malicious activities. From the financial implications of cyber incidents to consumer trust implications, the repercussions of inadequate cybersecurity measures are far-reaching. Let’s delve into the facts and figures that underscore the importance of safeguarding luxury brands against cyber threats.

Statistic 1

"44% of luxury brands reported a loss of brand value due to data breaches."

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Statistic 2

"The luxury industry faces an average of 1,000 cyber attacks per day."

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Statistic 3

"In 2020, only 53% of luxury brands had actively protected their online presence through cybersecurity measures."

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Statistic 4

"Nearly 70% of luxury brands suffered a data breach in 2019."

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Statistic 5

"63% of luxury brands have been a target of cyber criminal activity in three or more separate instances."

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Statistic 6

"As of 2019, online sales accounted for 12% of total sales for luxury goods, making cybersecurity a key concern."

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Statistic 7

"Over 55% of luxury brands do not have a formally established cybersecurity incident response plan."

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Statistic 8

"A study found that luxury brands were the third most targeted industry for phishing attacks."

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Statistic 9

"68% of luxury shoppers in China, the world's largest luxury market, say they’re concerned about data privacy."

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Statistic 10

"Phishing attempts accounted for 44% of all cyber threats faced by luxury brands."

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Statistic 11

"E-commerce, which makes up about 10% of luxury sales, witnessed a 57% rise in cyber attacks in 2020."

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Statistic 12

"60% of luxury companies will increase spending on digital defenses in the next three years."

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Statistic 13

"58% of luxury brand customers indicated that a data breach would highly affect their trust in the brand."

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Statistic 14

"72% of cyber incidents experienced by luxury brands are perpetrated by outsiders."

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Statistic 15

"Nearly 43% of all cyber crimes are targeted towards small businesses including independent luxury brands."

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Statistic 16

"The average time to identify and contain a breach in the retail industry, including luxury brands, is 279 days."

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Statistic 17

"Cyberattacks cost luxury businesses an average of $200,000 per attack."

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Statistic 18

"Approximately 88% of luxury consumers want transparency about how their personal data is being used."

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Interpretation

The statistics presented clearly highlight the significant cyber threats faced by the luxury industry, with a high percentage of brands experiencing data breaches and cyber attacks. It is concerning that a considerable number of luxury brands have not taken adequate measures to protect their online presence and customer data. The impact of cyber incidents on brand value and consumer trust cannot be understated, emphasizing the importance of investing in robust cybersecurity defenses. It is evident that cybersecurity is a critical concern for luxury brands, particularly in the face of rising phishing attempts and data privacy issues. As digital sales continue to grow, it is imperative for luxury companies to prioritize cybersecurity strategies and incident response plans to safeguard their operations and maintain customer confidence.

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