With huge growth in e-commerce in recent years and the number and type of digital touchpoints and digital services to consumers growing, the need for robust cybersecurity risk management strategy remains critical in the retail sector.
UK online sales accounted for 27% of total retail sales in 2024 and this is projected to increase in 2025, reflecting the continued shift towards digital shopping platforms. In parallel with that, 34% of UK retailers identify cyber and data risks as their biggest threats, with 70% ranking them in their top three risks. Indeed, cyberattacks, fraud and data leaks cost the retail sector £11 billion in 2023.
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