Over the last year, 55% of retail respondents reported an increase in the volume of cyberattacks, 55% reported an increase in attack complexity, and 51% reported an increase in the impact of attacks on their organization.
This week we discuss the latest in retail theft and what you can do to prevent loss.
THIS WEEK’S HIGHLIGHTS
- Retail vs ransomware: Everything you need to know to protect your store.
- Computer vision: How stores are utilizing the overload of data.
- Holiday rush: U.S. retail sales expected to grow 7.1% this holiday season.
FOOT TRAFFIC INDEX
Here’s a look at last week’s foot traffic compared to the same time last year.
FOOT TRAFFIC TRENDS
Industry insights so you can convert your foot traffic into more sales.
Retail vs. Ransomware
A new State of Ransomware in Retail 2022 report from Sophos found that retail had the second highest rate of ransomware attacks last year of all sectors surveyed after the media, leisure, and entertainment industry.
Globally, 77 percent of retail organizations surveyed were hit—a 75 percent increase from 2020. This is also 11 percent more than the cross-sector average attack rate of 66 percent.
Over the last year, 55% of retail respondents reported an increase in the volume of cyberattacks, 55% reported an increase in attack complexity, and 51% reported an increase in the impact of attacks on their organization.
Computer vision meets retail
Retailers who successfully leverage computer vision with diagnostic, proactive, and predictive analytics are gaining the much-needed competitive edge.
Computer vision provides video and audio for additional context, complementing other types of data. No matter if you are at your store for 9 hours a day, or an hour a week, it is impossible to see everything the way artificial intelligence can comprehend every second of the day.
The combination of foot traffic data and AI allows you to not only see exactly how long a customer was in a store, but you can see exactly where customers are spending their time.
Retail Snippets
Holiday rush: U.S. retail sales expected to grow 7.1% this holiday season.
Employee first: REI commits to closing stores on Black Friday forever.
A new order: Tupperware moves from living rooms to Target stores.
RANDOM IRRELEVANCE
Space travel: A Russian cosmonaut launches from the US for the first time in 20 years, alongside NASA and Japanese astronauts.
Unified port: EU passes resolution to standardize USB-C charging for smartphones by the end of 2024.
Goodwill: Another Goodwill resale site launches as the market takes off.