Data Breaches and Customer Loyalty 2017 - Report

New Research Reveals Most Consumers Would Stop Doing Business with Companies Following a Data Breach

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According to a study of more than 10,000 consumers worldwide, 70% of consumers would stop doing business with a company if it experienced a data breach. In addition, 69% feel businesses don’t take the security of consumer data very seriously. These are a few of the findings in Gemalto’s 2017 Data Breaches and Consumer Loyalty report.

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While 62% feel businesses are responsible for data security, consumers often have poor security hygiene themselves and fail to take advantage of available security measures such as two-factor authentication (41%) for social media accounts
Despite their behavior, consumers’ security concerns are high, as two thirds (67%) worry they will be victims of a data breach in the near future.
Retailers (61%), banks (59%) and social media sites (58%) were found to have a lot of work to do, with these being the sectors that consumers would leave if they suffered a breach.

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