Survey of UK retailers shows lack of preparedness for cyber attacks
The research, based on interviews with 117 senior retail executives, says one in four retailers (25%) feel “highly prepared” to detect, respond to, and recover from a major cyber incident.
THE SURVEY is from Retail Economics and Barclays UK Corporate Banking and also reveals nearly three in five retail leaders (58%) cite cybersecurity as a top-three threat for the year ahead – reflecting growing concern over ransomware, data breaches and system outages.
High-profile cyberattacks – such as recent incidents involving M&S – have forced cybersecurity into the boardroom, seeing investment in cyber resilience on the rise. Nearly two-thirds (64%) of retailers have increased their focus on cybersecurity over the past 12 months – from upgrading systems and stress-testing response plans to embedding security across supply chains.
Retail Economics chief executive Richard Lim, says: “Cyber threats are no longer just an IT issue. They cut to the heart of customer trust, brand reputation and operational continuity. It’s concerning that so many retailers still lack the confidence and capability to respond effectively. Resilience today isn’t just about protection. It’s about being ready to act, recover quickly and adapt at speed.
“The most forward-thinking retailers are using cyber risk as a catalyst for broader transformation. They are accelerating investment in digital infrastructure, strengthening internal agility and embedding resilience across their operations. These are the bold decisions, made under pressure, that will shape long-term success.”
