Partner Article

LogRhythm claims retailers under pressure on Black Friday

UK retailers have prepared themselves for two of the busiest days in the online shopping calendar. Black Friday and Cyber Monday will see shoppers spend millions of pounds online as the US craze continues to gain popularity in the UK. Indeed, last year, UK consumers spent £810 million on Black Friday, with sales this year expected to exceed £1 billion on online sales alone.

“Black Friday and Cyber Monday have become two of the biggest dates in the shopping diary.” said Ross Brewer, vice president and managing director of international markets at LogRhythm. “However, as millions of consumers hunt for a bargain, all eyes will be on retailers to ensure that the shopping experience is as seamless and, most importantly, secure as it can be. It’s been another tough year for big businesses, with the likes of Moonpig, TalkTalk and Vodafone all falling victim to large-scale data breaches. Retailers subsequently have a lot to prove when it comes to showing consumers that they are taking these threats seriously.

“No-one wants to be in the position Target found themselves in two years ago, when 40 million customers’ credit card details were stolen over the Black Friday weekend,” continued Brewer. “While this took place in the bricks-and-mortar store, it’s just as easy – if not easier – for criminals to access a company’s network online if the right tools are not in place. On Black Friday and Cyber Monday, large numbers of credit cards will be registered and used online, and cybercriminals, without doubt, will be using all their capabilities to get access.

“Most retailers know by now that they cannot afford to take shortcuts when it comes to cyber security. With breaches now a case of when, not if, it’s essential that they are on high alert at all times –particularly during busy shopping periods. In a nutshell, it’s essential they have tools that continuously monitors for suspicious activity so that a potential breach can be identified and mitigated before any damage has been done. Despite growing concerns over the cyber threat, consumers are still spending a huge amount of money online, but retailers cannot take this for granted. It only takes one data breach to damage a company’s reputation, which can have a significant long-term effect on the bottom line.”

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