"Cybersecurity in Retail", report discusses the cybersecurity challenges faced by retailers and analyzes the latest technology trends including artificial intelligence and biometrics for security. Recommendations are provided for ICT vendors and retailers regarding different strategic approaches and retail-specific IT security solutions.
Cybersecurity is on top of retail decision-makers’ agenda as various forms of attacks such as malware, phishing and denial-of-service are on the rise.
- ICT vendors need to consider retail-specific security challenges since retailers’ IT infrastructure differs from other verticals in the form of retail-specific hardware and software usage, such as PoS, beacons, eCommerce and supply chain management systems.
- Data flows from external sources need to be considered. Retailers share large data volumes with customers, suppliers and partners, which increases their vulnerability since any connected systems used by third parties provide a route into retailers’ networks.
- Insider threats form a major risk and require strong governance and access monitoring. Access to systems and data needs to be restricted to staff that relies on them for their work, and any actions tracked.
- Gain a deeper insight into cybersecurity challenges and solutions in retail.
- Understand how retailers' IT environments require specific security measures considering data flows, IoT devices and store setups.
- Useful advice is provided for ICT vendors as well as retailers regarding the choice of the right cybersecurity strategy and specific offerings that resonate well with retailers.
2 Key Trends in Cybersecurity
2.1 Artificial intelligence (AI) and automation
2.2 Biometrics for identity authorization
2.3 Retailers’ security investment priorities
3 Retailers Face Specific Threats
3.1 Point-of-Sale (PoS) systems
3.2 Wi-Fi networks
3.4 CCTV cameras
3.5 Mobile apps and retail/eCommerce platforms
3.6 Value chain management
3.7 Network security
3.8 Protection against ransomware
4 Cybersecurity Market and Vendor Landscape
4.1 Vendor overview by security field
4.2 Retailer spending on ICT security software
5 Recommendations for Retailers
6 Recommendations for ICT vendors
7.1 Further reading
7.2 Contact the author
List of Tables
Table 1: Security fields and vendors
Table 2: Global retailer spending on ICT security services and hardware ($ millions)
Table 3: Global retailer spending on ICT security software 1 ($ millions)
Table 4: Global retailer spending on ICT security software 2 ($ millions)
List of Figures
Figure 1: Cybersecurity threats faced by retailers
Figure 2: Security products currently in use by retailers and their prioritization for investment
Figure 3: Security services currently in use by retailers and their prioritization for investment
Figure 4: Retail systems under threat from cyberattacks
Figure 5: Enterprise networking solutions currently in use and planned for investment in the next two years