Since the burst of the dot.com bubble, e-commerce has been increasing exponentially. Small and large companies have got into the business of buying and selling online and reaped the benefits of reaching newer markets by breaking the barriers of time and distance. But digitization and using latest technology apart from the above discussed aids, brings along its share of e-risks in the form of cyber-crimes. With millions of users sharing personal and financial information for shopping online day in and day out, the e-commerce becomes an online black market for hackers and cyber thefts to thrive in.
Hence having better security tools and softwares to keep cyber criminals at far distance is one thing apparel retailers need to focus on, otherwise bear the consequences, like in the case of Target. After the breach into customer data, the company has lost a lot of consumers, and in three months of the incident, net earnings fell by 46 percent in comparison to 2013's fourth quarter from US $ 961 million to $ 520 million. Since the last year's holiday season the company is believed to have put personal credentials of more than 40 million users at risk with the breach.
Hence having better security tools and softwares to keep cyber criminals at far distance is one thing apparel retailers need to focus on, otherwise bear the consequences, like in the case of Target. After the breach into customer data, the company has lost a lot of consumers, and in three months of the incident, net earnings fell by 46 percent in comparison to 2013's fourth quarter from US $ 961 million to $ 520 million. Since the last year's holiday season the company is believed to have put personal credentials of more than 40 million users at risk with the breach.