A new study has found that the retail industry ranks third for data breaches which expose consumer data.
This week, we’ll look at the current climate of data security in the industry and meet the top innovators from the 18th annual Retail 100 flagship report.
Today’s Rundown
- Major measures: California to make the largest-ever investment to combat organized retail crime.
- Personalization overdrive: Generative AI means more targeted marketing for consumers.
OUT NOW – Q2 2023 Benchmark Report: Click HERE to see how your store compares to the industry average.
18th annual 100 flagship report
Retail Week, the business intelligence platform has unveiled its 18th annual Retail 100 flagship report. This year’s edition showcases the most influential figures shaping the retail industry.
The report highlights individuals driving change, innovation and advocacy within the sector. The report spotlights the increasing importance of customer experience (CX), with 23 leaders recognised as “Experience Innovators.” Greggs CEO Roisin Currie has led her company to a 23% increase in total sales, reaching £1.5bn.
Sustainability remains a top priority, and the 2023 report introduces us to fresh faces like Victoria Prew, the CEO and founder of Hurr Collective. With her guidance, the company has amassed an impressive inventory worth over £1 million, featuring luxury brands like Burberry, Celine, and Dior.
Click HERE to download the full report.
Consumer data leaks on the rise
New research by password manager NordPass finds that businesses operating in the retail field have leaked consumers’ data more than most other industries.
Since the end of 2019, nearly 730 retail companies worldwide have reportedly experienced data breaches, resulting in the exposure of various consumer information such as email addresses, passwords, and usernames.
This places the retail industry in third position among sectors with most client data leaks, behind entertainment and technology companies.
Private businesses in the retail field were of most interest to hackers. Based on the study, they make up almost a half of organizations that had their clients’ data stolen.
Insider threats also form a major risk and require strong oversight and access monitoring. Access to systems and data needs to be restricted to staff that relies on them for their work, with any actions tracked.
Click HERE to learn more about how to stay secure.
Retail Snippets
Major measures: California to make the largest-ever investment to combat organized retail crime.
Sandal takeover: Birkenstock files for IPO as it eyes global growth.
SF crisis: Nordstrom officially closes its San Francisco store after 35 years.
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