Data Breaches Have Major Impact on Customer Loyalty
Worryingly, the survey revealed that nearly a third (31 percent) of respondents have already been affected by data breach in the past.Nearly two-thirds (64 percent) of consumers say they are unlikely to shop or do business again with a company that had experienced a breach where financial information was stolen, according to a worldwide survey of 5,750 consumers in Australia, Brazil, France, Germany, Japan, United Kingdom and the U.S. The survey revealed almost half (49 percent) had the same opinion when it came to data breaches where personal information was stolen. Nearly six in ten consumers surveyed (59 percent) said they believe that threats to their personal information increases during the festive season, and about two in ten (18 percent) believe that they are likely to be a victim of a breach during the holiday season. Worryingly, the survey revealed that nearly one-third (31 percent) of respondents have already been affected by a data breach in the past.
"With the increasing number of breaches, I think it’s easy to see why consumers are losing trust in the ability of companies to protect customer data. That is obviously pointed out by the survey," Jason Hart, vice president and chief technology officer for data protection at Gemalto, told eWEEK. "But the interesting finding is the dichotomy of consumers feeling that business bears the most responsibility in protecting data while admitting that they themselves commit some serious security faux pas by using the same password for most of their online accounts."