All organizations will experience added pressure during the holiday season, but the biggest impact will be felt by online retailers. Black Friday and Cyber Monday, which take place at the end of November, have seen a steady growth over the last few years. In 2020, Cyber Monday garnered $10.8bn, making it the biggest eCommerce day in US history. Black Friday, on the other hand, saw an online spending increase of about 22% YoY to around $9 billion.
Tackling the surge in website traffic and ensuring servers don’t fail is only half the challenge for eCommerce organizations. The flood of visitors could mask a more sinister problem with far greater repercussions, both financially and reputationally.
It is meant to be the most joyous time of year, but for many the festive period around Thanksgiving and Christmas can be the most challenging when it comes to cybersecurity. Cybercrime is a chronic problem that is evolving as our shopping behaviors change. The pandemic and subsequent increase in online shopping has given rise to various forms of attack methods such as card-not-present (CNP) crime, where a customer pays for goods without physically showing their credit card to the merchant. According to Juniper Research, retailers could lose $130bn globally in CNP fraud by 2023. Other common techniques including phishing, DDoS attacks or SQL injection.
eCommerce retailers need to take online security seriously. They cannot afford to risk their customers’ data or reputation. While it’s almost impossible to keep every hacker out, there are tactics you can employ to avoid a large-scale takeover. Here are five ways you can ward off cyberattacks this holiday season:
If you work in eCommerce and want some advice on how you can make this time of year full of cheer, speak to one of the team or arrange a personal demo here.
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