Supported by Lockton
Major changes in consumer demands and behaviour over the last two years have triggered a transformation in the world of ecommerce. This report assesses the impact of this change on retail business models, with a particular focus on supply chains, cyber threats and profitability.
Between 2020 and mid-2021, retailers enjoyed a 40-50% growth in online revenues. While this growth has now started to slow, volumes remain strong and the current 10% contraction is now more in-line with pre-pandemic trading patterns.
Extended supply chains, shrinking delivery windows and demanding production schedules expose retailers to high levels of risk. This has been exacerbated by the massive increase in online consumer demand over the last two years.
Cyber threats are on the rise too, with 75% of larger business now reporting weekly incidents. Ransomware is seeing the largest increase. This is where the perpetrator effectively threatens the ability of a business to trade, usually during peak selling periods, encouraging the business to hand over money. Often these events stem from other seemingly lower level threats such as phishing.
Read this report and find out: