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The Holiday Season’s Cybersecurity Crisis: Why Retailers are Under Heightened Pressure

November 9, 2023

The holiday season presents a lucrative opportunity for online retailers to finish the year on a high note; however, various factors pose threats to online businesses.

According to the IBM Cost of a Data Breach report, the global average cost of a data breach was $4.45 million, which is a 15% increase since 2020. In response, 51% of organizations plan to increase cybersecurity spending this year. While it’s clear that cybersecurity attacks are on the rise and the importance of robust cybersecurity measures in the retail sector is rapidly increasing, the forces driving this mounting pressure among retailers are less known.

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