Customer Loyalty Seriously Affected by Data Breach...

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Customer Loyalty Seriously Affected by Data Breaches: SafeNet

comment: Customer loyalty has been shaken and their confidence in company's is being question

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By Eduard Kovacs on July 31, 2014

 

A global survey conducted by data protection solutions provider SafeNet once again confirms that data breaches, especially ones that involve financial data, have a negative impact on customer loyalty.

According to the study, 65% of the roughly 4,500 respondents are unlikely to do business with a company that experienced an incident in which credit card details, bank account numbers or online banking login data was stolen. Consumers in the United States and Germany appear to be the least concerned, with 54%, respectively 53%, saying that they would not do business with a firm that suffered a data breach. Japan is at the other end of the poll with 82%.

Data breaches that involve only personally identifiable information can also affect customer loyalty, with 57% of respondents saying that they would most likely stop using the services of an organization that suffered such a breach.

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