10+ Retail Cybersecurity Statistics: A Must-Know in 2024

Cyberattacks heavily impact the retail sector, accounting for 24% of all attacks. Plus, the average cost of a data breach in retail shot up to $3.28 million.

To show just how serious these cyber threats are, Iโ€™m going to share the most important retail cybersecurity statistics you need to know. ๐ŸŒ๐Ÿ’ณ๐Ÿ”’

Retail Cybersecurity Statistics: The Key Data

  • 11.1% of all cyberattacks were directed at retailers.
  • The retail industry experienced 629 confirmed incidents and 241 breaches in 2022.
  • In retail, the average cost of a data breach in 2022 was $3.28 million.
  • 77% of consumers rank cybersecurity and data privacy 3rd when choosing a retailer.
  • 40% of people think retail POS systems are the most vulnerable to cyberattacks.
  • 50% of retail cyberattack victims were extorted, and 25% had their credentials harvested.
  • 45% of retailers reported an increase in the volume, severity, or scope of cyberattacks in 2021/22.
  • 77% of retail businesses were attacked by ransomware in 2021, an increase from 44% in 2020.
  • 98% of the 629 incidents in the retail sector involved a financial motive.
  • 89% of retailers affected by ransomware reported revenue or business losses.
  • Nearly 20% of customers say they will stop purchasing from companies that have been hacked.

Sources: (Fortinet, CSO Online, WWD, NBER, Arctic Wolf, ISA Cybersecurity, Trend Micro, Security Magazine, Virtual Armour.)

Cybersecurity Threats in Retail Statistics

Retail faces some serious cybersecurity threats, like phishing and ransomware. Hereโ€™s a breakdown of the most common issues retailers deal with:

  • 30.5% of retail cybersecurity threats come from credential phishing attacks.
  • 22% of threats are due to malware, often because of point-of-sale vulnerabilities and unpatched software.
  • 13% of retail cyber threats involve ransomware.
  • About 10% of threats are DDOS attacks.
  • 24.5% of cybersecurity threats in retail come from various other sources.
Statistics associated with retail cybersecurity threatsPin

Source: SlideTeam

Types of Retail Attackers

Retail security threats come from different sources, mostly from outside attackers. Hereโ€™s a breakdown of the types of attackers that retailers face:

Retail Security Threats Types of AttackersPin
  • 83% of retail security threats come from external attackers.
  • 13.1% of attacks involve multiple sources.
  • 3.3% of threats are from malicious insiders within the company.
  • 0.6% of security issues are caused by unintentional actions from insiders.

Source: 2013 IBM Cyber Security Intelligence Index for Retail

Causes of Retail Data Breaches Statistics

Retail data breaches mostly happen because of hacks, tech issues, and human mistakes. Hereโ€™s a look at what usually causes them:

  • 40% of data breaches in retail are due to malicious attacks.
  • 30% of retail breaches are caused by IT failures.
  • 30% of retail data breaches result from human error.
Causes of Retail Data Breaches StatisticsPin

Source: WWD

Cyberattack Distribution by Industry 2023

Different industries get hit by cyberattacks at different rates, and some are bigger targets than others. Hereโ€™s how the attacks are spread out across various sectors:

Cyberattack Distribution by Industry Pin
  • Manufacturing: 25.7%
  • Finance and Insurance: 18.2%
  • Energy and Utilities: 11.1%
  • Retail: 11.1%
  • Healthcare and Pharmaceuticals: 10.7%
  • Public Administration: 6.3%
  • Education and Research: 4.3%
  • Other Sectors: 2.8%

Source: X-Force Index by IBM Security

POS Cyberattack Vulnerability by Industry

POS systems in different industries are super vulnerable to cyberattacks, especially in retail and restaurants. Hereโ€™s a breakdown of which sectors are most at risk:

  • 40% of people think retail POS systems are the most vulnerable to cyberattacks.
  • 26% believe restaurant POS systems are highly susceptible to cyber threats.
  • 18% think other industries’ POS systems are at risk of cyberattacks.
  • 8% consider sports and entertainment POS systems to be vulnerable.
  • Another 8% believe hotel POS systems are susceptible to cyber threats.
Which industry's point-of-sale systems (POS) do you believe are the most susceptible to cyberattacksPin

Source: Morphisec