The consequences to retailers falling victim to a data breach are severe, results of a survey conducted by information systems, cybersecurity and data protection provider Thales suggest.
Conducted by Wakefield Research, the survey of 1,000 nationally representative adults in the United States and United Kingdom was conducted between Nov. 30-Dec. 6 via email invitation and online survey.
Should a retailer be hacked and have credit card information, they can wave goodbye to 20 percent of their business. One quarter would not change their behavior while 55 per cent would still shop there but only with cash.
The most popular payment method is a debit card at 59 per cent. Cash is close behind at 56 per cent, while 54 per cent will use credit cards. Gift cards (32 per cent) and mobile payments (16 per cent) are less popular though growing.
Almost as many people are shopping online as they are at stores.
Sixty-six per cent say they will be shopping at a store while 64 per cent will use a desktop or laptop computer. One-third will employ a mobile device, smartphone or tablet while eight per cent are not shopping for gifts.