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Cybersecurity in Retail - Trends, Threats and Solutions

Cybersecurity in Retail - Trends, Threats and Solutions

Summary

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.

Scope

  • 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.
Reasons to buy
  • 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.


1 Cybersecurity Threats are on the Rise 3
2 Key Trends in Cybersecurity 5
2.1 Artificial intelligence (AI) and automation 5
2.2 Biometrics for identity authorization 6
2.3 Retailers’ security investment priorities 7
3 Retailers Face Specific Threats 9
3.1 Point-of-Sale (PoS) systems 10
3.2 Wi-Fi networks 12
3.3 Beacons 13
3.4 CCTV cameras 14
3.5 Mobile apps and retail/eCommerce platforms 14
3.6 Value chain management 15
3.7 Network security 16
3.8 Protection against ransomware 18
3.9 SD-WAN 18
4 Cybersecurity Market and Vendor Landscape 21
4.1 Vendor overview by security field 21
4.2 Retailer spending on ICT security software 23
5 Recommendations for Retailers 25
6 Recommendations for ICT vendors 26
7 Appendix 27
7.1 Further reading 27
7.2 Contact the author 27
7.3 Contact Us 28
List of Tables
Table 1: Security fields and vendors 21
Table 2: Global retailer spending on ICT security services and hardware ($ millions) 22
Table 3: Global retailer spending on ICT security software 1 ($ millions) 23
Table 4: Global retailer spending on ICT security software 2 ($ millions) 24
List of Figures
Figure 1: Cybersecurity threats faced by retailers 4
Figure 2: Security products currently in use by retailers and their prioritization for investment 8
Figure 3: Security services currently in use by retailers and their prioritization for investment 8
Figure 4: Retail systems under threat from cyberattacks 9
Figure 5: Enterprise networking solutions currently in use and planned for investment in the next two years 20

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