Per this article in Fast Company, it now seems that some 72% of consumers expressed an impact in their perception of a retail brand following a breach announcement. However, only 12% actually stopped shopping at the breached stores.
This appears to be a rising tide in the mind of consumers, with an increase in both attention and action versus previous polls.
Add to that the feelings of fatigue that we have been following on social media when breaches are announced. TigerTrax often identifies trending terms of frustration around breach announcements, and even some outright hostility toward brands with a breach. Not surprising, given the media hype cycle today.
TigerTrax also found that a high percentage of consumers were concerned to a larger extent about information privacy than in the past. Trending terms often include “opt out”, “delete my data” and various other conversation points concerning the collection and sharing of consumer information by vendors.
Retailers and other service providers should pay careful attention to this rising tide of global concern. Soon, breaches, data theft and illicit data trafficking may show significant increases in consumer awareness and brand damage is very likely to follow…