Ultimately, consumer patience will wear thin. Online shopping is a big trend and consumers will continue to make purchases over the Internet, but retailers that fail to prevent and proactively address security breaches will risk the loss of substantial brand trust as consumers look to shop elsewhere.”
For retailers, the risk of losing customers to a competitor due to data security breaches is huge, since it would have a big impact on sales and on the company, which would no longer have access to important customer data.