Consumers Hit Back When Companies Are Breached
Breach Boycotts22% of the consumers surveyed have stopped purchasing from a company as a result of a data breach.
Now that consumers have grudgingly accepted a reality in which the growing array of security and privacy threats in the digital world are an unavoidable part of life, they are using their concerns to seize economic power. They have begun tying their purchasing decisions to the seemingly never-ending string of data breaches that have hit large American brands over the past few years. Along those lines, a recent poll of American consumers shows that many people are refusing to do business with companies that could potentially put them at risk. Law firm Morrison & Foerster, a specialist in data breaches, surveyed 900 people and found that growing numbers of them are educating themselves about the security measures companies are taking. Significantly, a growing number of consumers are refusing to do business with companies that do a poor job protecting their customers’ personal information. “The findings indicate that a significant percentage of the American people continue to be concerned about numerous facets of security,” said Andrew Serwin, co-chair of Morrison & Foerster’s global privacy and data security group.