The Latest Cybersecurity In The Sales Industry Statistics Explained
By 2025, the economic value at risk from cybersecurity threats in the sales industry could be as high as $5.2 trillion, according to a report by Accenture.
The statistic suggests that by the year 2025, the sales industry faces a substantial economic risk amounting to $5.2 trillion due to cybersecurity threats. This estimate is based on a report by consulting firm Accenture, which highlights the potential financial losses that businesses in the sales sector could incur as a result of cyberattacks and security breaches. The projected value at risk underscores the significant impact that cybersecurity threats can have on the financial stability and operations of organizations within the sales industry. In essence, it serves as a stark warning for companies to prioritize and invest in robust cybersecurity measures to safeguard their assets and mitigate potential risks posed by evolving cyber threats.
In the United States, 68% of sales industry businesses expressed their concern over cybersecurity, according to the National Retail Federation.
The statistic that 68% of sales industry businesses in the United States expressed concern over cybersecurity, as reported by the National Retail Federation, indicates a significant level of awareness within the industry regarding potential threats to their digital infrastructure. This finding suggests that a majority of sales businesses recognize the importance of protecting their data, customer information, and operational systems from cyberattacks and breaches. The high percentage of businesses expressing concern highlights the growing recognition of cybersecurity as a critical issue in the modern business landscape, emphasizing the need for effective security measures and strategies to safeguard against potential threats and vulnerabilities.
64% of sales companies have experienced web-based attacks, according to Symantec.
The statistic that 64% of sales companies have experienced web-based attacks, as reported by Symantec, indicates a prevalent cybersecurity challenge within the sales sector. This statistic suggests that a majority of sales companies have been targeted by hackers through web-based methods such as phishing, ransomware, or other forms of cyber attacks. This highlights the vulnerability of sales companies to online threats and emphasizes the importance of implementing robust cybersecurity measures to protect sensitive data, secure transactions, and maintain business continuity in the face of increasing cyber risks. Businesses in the sales industry need to prioritize cybersecurity awareness and invest in technologies and practices to mitigate the growing threat of web-based attacks.
Credit and debit card fraud costs retailers and sales businesses up to $190 billion each year, according to Forbes.
The statistic stating that credit and debit card fraud costs retailers and sales businesses up to $190 billion each year, as reported by Forbes, highlights the significant financial impact of fraudulent activities on businesses. This staggering figure underscores the pervasive issue of fraud in the retail sector and emphasizes the importance of implementing robust security measures to protect against such threats. With advancements in technology and increasing reliance on digital transactions, the potential for fraud continues to grow, making it imperative for businesses to stay vigilant and proactive in safeguarding their financial assets and customer data. The substantial monetary losses associated with card fraud underscore the urgent need for businesses to invest in secure payment systems and fraud prevention strategies to mitigate risks and protect their bottom line.
In 2020, 70% of businesses reported that they were more likely to invest in Cybersecurity due to COVID-19, according to a Keepnet Labs survey.
The statistic indicates that a majority of businesses, specifically 70%, expressed an increased willingness to invest in cybersecurity measures as a response to the COVID-19 pandemic. This suggests that the global health crisis has heightened awareness among organizations about the importance of strengthening their cybersecurity defenses to protect against potential cyber threats and vulnerabilities that may arise from changes in remote work setups and increased reliance on digital technologies. The data, derived from a survey conducted by Keepnet Labs in 2020, highlights a significant shift in priorities for businesses towards enhancing their cybersecurity posture in the face of evolving cyber risks brought about by the pandemic.
The sales industry experiences an average of 110 million attempted cyber threats per month.
The statistic suggests that the sales industry encounters a significant volume of cyber threats on a monthly basis, with an average of 110 million attempted attacks. This high frequency of cyber threats indicates that the sales sector is a prime target for malicious actors seeking to exploit vulnerabilities and gain unauthorized access to sensitive information, such as customer data and financial records. The substantial number of attempted attacks underscores the importance of robust cybersecurity measures and vigilant monitoring to protect against potential breaches and safeguard the integrity of sales operations. It emphasizes the need for organizations in the sales industry to prioritize cybersecurity efforts and invest in strategies to defend against the ever-evolving landscape of cyber threats.
According to Positive Technologies, 40% of all cyberattacks on sales businesses are malware attacks.
The statistic “According to Positive Technologies, 40% of all cyberattacks on sales businesses are malware attacks” indicates that a significant portion of cyberattacks targeting sales businesses involve the use of malware. This statistic suggests that malicious software, such as viruses, ransomware, or trojans, is a common method used by attackers to infiltrate and compromise the cybersecurity defenses of sales-oriented organizations. Given the prevalence and sophistication of malware threats in today’s digital landscape, sales businesses must prioritize robust cybersecurity measures, such as regular software updates, employee training on phishing awareness, implementing firewalls and antivirus software, and conducting frequent security assessments to mitigate the risks associated with malware attacks.
More than 80% of sales businesses saw an increase in cyber threats in the last 12 months, according to the cybersecurity survey by KPMG.
The statistic “More than 80% of sales businesses saw an increase in cyber threats in the last 12 months, according to the cybersecurity survey by KPMG,” indicates that a significant majority of businesses operating in the sales sector have experienced a rise in cyber threats within the past year. This information highlights a concerning trend of heightened vulnerability to cyber attacks within the sales industry, requiring businesses to prioritize cybersecurity measures to protect their data and systems from potential breaches. The findings from the KPMG survey suggest a growing need for sales businesses to invest in stronger cybersecurity measures and strategies to safeguard their operations and customer information against evolving cyber threats.
28% of global breaches hit the retail segment in 2019, according to IBM.
This statistic indicates that in 2019, 28% of all global data breaches occurred within the retail sector, as reported by IBM. This suggests that the retail industry was particularly vulnerable to data security breaches during that year. Data breaches in the retail sector can have serious consequences, potentially leading to financial losses, damage to reputation, and loss of customer trust. It highlights the importance for retailers to prioritize cybersecurity measures to protect sensitive information and secure their systems from potential threats.
The average cost of a data breach in the retail industry was $2.7 million in 2018 according to the report by Ponemon Institute.
The statistic indicates that the average cost of a data breach within the retail industry was $2.7 million in the year 2018, as reported by the Ponemon Institute. This figure represents the financial impact that organizations operating in the retail sector faced as a result of cybersecurity incidents and data breaches during that year. The cost encompasses various factors such as incident response, investigation, legal fees, regulatory fines, customer notification, and potential loss of business due to damaged reputation. This statistic underscores the significant financial implications of data breaches on retail businesses and highlights the importance of investing in robust cybersecurity measures and strategies to mitigate such risks.
69% of consumers are less likely to engage with a sales retailer after a data breech according to KPMG.
The statistic indicates that 69% of consumers are deterred from interacting with a sales retailer following a data breach incident, as reported by KPMG. This implies that a significant majority of consumers would be hesitant to engage in future transactions with a retailer that has experienced a breach of their personal information. The repercussions of a data breach extend beyond immediate consequences, as the loss of trust and confidence from consumers can have long-lasting impacts on a retailer’s reputation and sales performance. It underscores the critical importance for businesses to prioritize robust cybersecurity measures to safeguard customer data and maintain consumer trust in today’s digital age.
Over 65% of sales businesses have seen an increased number of phishing attacks since the start of the Covid-19 pandemic, according to Sophos.
The statistic suggests that the majority of sales businesses have encountered a rise in phishing attacks since the onset of the Covid-19 pandemic, as reported by Sophos. This significant increase in cyber threats targeting sales organizations may be attributed to the shifting work dynamics brought about by the pandemic, such as increased reliance on remote work and digital communication channels. These conditions have likely created opportunities for cybercriminals to exploit vulnerabilities in sales businesses’ security systems and employee awareness. As a result, it is imperative for sales organizations to prioritize cybersecurity measures, employee training, and robust IT infrastructure to safeguard sensitive data and mitigate the risks associated with phishing attacks.
According to SecurityScorecard, 60% of retailers have weak cybersecurity defenses, thereby increasing the likelihood of data leaks or breaches.
According to SecurityScorecard, a notable 60% of retailers are reported to have weak cybersecurity defenses, which means that a majority of companies within the retail sector may be more vulnerable to potential data leaks or breaches. These findings suggest a concerning trend in the industry, highlighting the significant cybersecurity risks that retailers face in safeguarding sensitive customer information and financial data. With weak defenses in place, these businesses are at a heightened risk of cyber attacks that could compromise their operations, reputation, and ultimately put consumer data at risk. It underscores the importance of implementing robust cybersecurity measures and practices to fortify defenses and protect against potential threats in today’s digital landscape.
According to Cybersecurity Ventures, organizations will spend $6 trillion on cybersecurity by 2021 due to the dramatic increase in cyber attacks.
The statistic provided by Cybersecurity Ventures indicates that organizations worldwide are expected to allocate a total of $6 trillion towards cybersecurity measures by 2021, reflecting a significant increase in investments to combat the rising frequency and impact of cyber attacks. This rise in spending highlights the growing recognition of the critical importance of cybersecurity for businesses of all sizes, as they aim to safeguard their sensitive data, protect their operations, and mitigate the financial and reputational risks posed by cyber threats. The substantial financial commitment projected for cybersecurity also suggests a shift towards prioritizing proactive measures to strengthen defense mechanisms, improve incident response capabilities, and enhance overall resilience in the face of an evolving threat landscape.
Conclusion
The statistics presented clearly indicate the growing importance of cybersecurity within the sales industry. As technology continues to advance, companies must prioritize safeguarding their data and systems to avoid potential cyber threats. By being aware of the trends and statistics in cybersecurity, sales professionals can better arm themselves with the knowledge and tools needed to protect their organizations and clients from malicious attacks.
References
0. – https://www.cybersecurityventures.com
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2. – https://www.www.keepnetlabs.com
3. – https://www.www.forbes.com
4. – https://www.newsroom.ibm.com
5. – https://www.cdn.nrf.com
6. – https://www.www.ptsecurity.com
7. – https://www.www.accenture.com
8. – https://www.www.symantec.com
9. – https://www.info.kpmg.us
10. – https://www.advisory.kpmg.us
11. – https://www.securityscorecard.com
12. – https://www.news.sophos.com
13. – https://www.www.ibm.com
