Arcserve, the world’s most experienced provider of backup, recovery, and immutable storage solutions for unified data resilience against ransomware and disasters, today released a segment from its annual independent global research during Cybersecurity Awareness Month that highlights an urgent need for enhanced data resilience in the retail sector. The results reveal a lack of preparedness and confidence in data backup and recovery strategies, raising concerns about the industry’s readiness to protect sensitive customer and business data.
Key survey insights include:
- Ransomware Pressures: 54% of retail executives disclosed they were targeted by ransomware in the past 12 months; 26% of the attacks resulted in compromised data, and a quarter confirmed paying ransom.
- Recovery Confidence: 66% of retail executives surveyed were not very confident in their ability to recover all lost data in the event of a ransomware attack.
- Partial Data Recovery: Nearly half (42%) of retail executives admitted being unable to recover all data during their last significant data loss incident.
- Unprepared for disaster: 57% reported they lack well-documented or updated disaster recovery plans. The vast majority (72%) revealed that they do not have specific data resilience goals within their data and backup strategies.
Aftab Alam, Chief Product Officer at Arcserve, states: “As we head into the Cybersecurity Awareness Month and the holiday shopping season that follows, retailers can’t afford to be caught off guard. Our latest research is more than a cautionary tale; it’s a call to action. Retailers must urgently overhaul their disaster recovery plans to match the ever-evolving cyber threat landscape. Data resilience isn’t a ‘nice-to-have’; it’s a non-negotiable business requirement with clear, measurable objectives. And don’t wait for a crisis to test your recovery protocols; make it a regular practice, akin to a fire drill. By taking these steps, retailers do more than protect their bottom line – they retain the trust of their customers.”
Arcserve recommends three immediate steps for retail organizations to be better prepared:
- Review and Update Disaster Recovery Plans: Assess the robustness of data recovery strategies and ensure they align with the evolving threat landscape.
- Invest in Data Resilience: Define specific data resilience goals within data and backup strategies to minimize potential losses.
- Test Recovery Procedures: The wrong time to test disaster recovery plans is during a crisis. Test them now to ensure seamless and orchestrated recovery when it matters most.
