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Post-breach - 30 percent of consumers would take business elsewhere

Study: Post-breach, 30 percent of consumers would take business elsewhere
by Danielle Walker

A new study examines the potential loss of business caused by data breaches, specifically those occurring in the retail, healthcare and financial sectors. The report, released Tuesday, called “Avoidable Collateral Damage from Corporate Data Breaches”, (PDF) found that 33 percent of consumers would avoid further business with a retailer post-breach.

In the study, the retail sector faced the stiffest reactions from those polled, as 30 percent of individuals said they would search elsewhere for a new healthcare provider. Twenty-four percent of respondents said they would switch banks or credit card providers if their financial institution suffered a breach.

 

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Re: Post-breach - 30 percent of consumers would take business elsewhere

Wow, that is bigger than I would have expected.  Good to put a hard number on the financial impact of a breach.