Customer Behaviour

Three quarters of UK consumers would leave a company if it was hacked, according to a new report.

Research from Centrify showed that 75 per cent of adults would stop doing business with, or cancel a membership to, an organisation if it was hacked. Meanwhile, a quarter would apparently continue to use the business despite the apparent risks.

These figures come despite 73 per cent of consumers believing it has now become normal or expected for businesses to be hacked.

Only half of those questioned said they believe companies are taking enough responsibility for the security of their customers’ information, even though around two thirds gave companies a nine or ten on a ten-point scale of how responsible they should be for preventing breaches.

Among those most likely to take their business elsewhere following a hack

were those who have had their information compromised in a previous attack, tech-savvy customers and those who regularly shop online, the report found.

“If three quarters of customers are prepared to walk away from a business if it has been compromised, then what kind of message is this sending to those organisations?” asked Bill Mann, chief product officer at Centrify.

“We would say that it is a very clear call to action to those businesses to sort out their processes and do everything they can to protect confidential customer information. When companies put customer data at risk they are really putting their entire business at risk.

“People simply will not tolerate doing business with potentially risky organisations, so it’s time for them to take full responsibility for their security and put the proper measures in place once and for all.”

The report found that financial institutions have the best reputation when it comes to dealing with security breaches, while membership and hospitality businesses were ranked bottom, just below the retail and travel industries.

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