US online holiday sales grew by 30% in 2020, and Forrester forecasts that it will grow another 10% year over year in 2021. This growth raises the stakes for retail professionals to support the increased demand, which ultimately makes them a prime target for ransomware attackers.
Why should retailers pay attention to ransomware preparedness?
Ransomware attackers target organizations that need as close to 100% uptime as possible, since those businesses will feel the effects of a ransomware attack more viscerally and are more likely to pay a ransom quickly. Retailers and their providers fall right into this bucket: They rely on continuously running production, they must serve consumers constantly, and they often utilize just-in-time manufacturing. Furthermore, they often have several third-party dependencies they can’t disappoint and complex supply chains to manage.
Every aspect of the retail supply chain is a potential target of attack.
Since the holiday season guarantees retailers an increase in traffic and more emotionally-charged purchases, the incentive for ransomware groups to attack them is exacerbated now more than ever. Below, we provide a primer on ransomware attacks and how they can affect retailers.
What is ransomware?
Ransomware is a type of malicious software designed to block access to a computer system until a