Cyber security is a concern for all industries, but retail is quickly becoming one of the most targeted industries. Companies in this sector often have part-time workers who feel less involved in their workplace’s mission and goals and are more vulnerable to cyber threats.
According to a recent study, 52% of employees don’t think their job is involved in their employer’s cyber security goals. With phishing and ransomware directly targeting users, this number can be quite scary for stakeholders in the retail sector.
To understand the gravity of the situation, let’s take a broader view of why this industry is a prime target for hackers and why cyber security should be a priority for retail stakeholders and employees.
Why Do Hackers Target Retail?
From logistics to staffing and physical security, a large portion of tasks executed within a retail store are executed by third-party vendors. This connectivity opens doors to potential cyber threats, from full system shutdown via ransomware to more subtle personal or payment information theft.
The statistics on third-party breaches are so high that it is safe to say one of your partners has been breached in the last 24 months.
The retail industry also has access to sensitive customer information, especially if they have a reward program. The potential payment information alone makes retail stores attractive targets for cyber criminals.
Additionally, physical stores have steadily increased their reliance on technology over the years, recently reaching a point where critical processes like inventory management and payment acceptance are fully reliant on digital devices.
Why Should Retail Care About Cyber Security Awareness Training?
Despite numerous reasons why retail should focus on cyber security, a common belief, especially for smaller companies, is that retail stores are relatively safe from cyber attacks. Here are some of the most common objections to cyber security awareness training:
- “Our employees understand enough about cyber security.”
- We don’t have the budget for cyber security awareness training.”
- “Training takes too much time away from work.”
- “Our employees won’t be interested in cyber security training.”
- “Our company is too small to be a target of cyber attacks.”
These statements create a dangerous environment for any organization that believes them. In fact, since most retail employees don’t work in a traditional office setting, they face very different cyber threats that they simply cannot be ready for without proper education.
Fortra’s Terranova Security tackles these objections in their eBook, “Building Cyber Security Awareness: Why Training is a Must for the Retail Sector.”
Building a Cyber Security Aware Culture in Retail
Retail stores have a high turnover rate and deal with many different purveyors. This leads to dangerous situations like a novice employee ordering stock with company funds or updating point-of-sale software. These routine tasks can quickly create cyber risks if employees aren’t trained properly.
If executed correctly, establishing a cyber security culture in your workplace can be a fun and rewarding experience for your employees. Cyber security awareness training can also foster a sense of belonging since your workforce will feel more involved in the company’s future.
A good program will also allow you to identify highly engaged employees who might be ready for advancement within the company.
Empowering Retail Resilience: The Path Forward in Cybersecurity
Cyber security awareness training is essential for any company, but the retail industry especially can’t afford to lag behind in that regard.
Terranova Security has created a comprehensive eBook to:
- Explain the threats the retail sector faces
- Address the most common objections to cyber security awareness training
- Provide actionable insights on how this industry can remain protected
Let’s dive in!