Consumers More Likely to Change Shopping Habits After Retail Data Breach, Survey Finds
In a new survey, 75 percent of consumers said they would consider changing their shopping habits if they found out a retailer had been hacked and their credit card information had been stolen at some point. The survey, conducted by cybersecurity and data protection firm Thales, focused specifically on American’s holiday shopping behavior and their reactions to a retailer data breach.
"These survey results offer a stark reminder that a serious data breach could stop many consumers from shopping at a merchant's store or at the very least move them back to cash payments," Jose Diaz, director of payment strategy at Thales e-Security, said in a statement.
Perhaps the most surprising finding from the survey is how consumers said they would change their shopping habits. When asked which reaction they’d most likely identify with, 55 percent of those surveyed said they would continue to shop at the retailer, but they would switch to using cash only. Another 20 percent said they would no longer shop at the compromised store, and 25 percent said they would continue to shop at the store using any payment method.