Challenges in Retail Cybersecurity
The retail industry is rapidly evolving, with technological advancements like omni-channel marketing, e-commerce, hyper-personalization, and automation reshaping the landscape. However, these innovations bring about increased complexity in hybrid IT infrastructure, making retailers vulnerable to cyber threats. Hacker groups target weaknesses in this evolving infrastructure, with 45% of retailers reporting a rise in cyberattacks. The 2022 Thales Data Threat Report Retail Edition highlights key findings from a global survey, showing that 27% of retailers are willing to pay a ransom, 32% have experienced security breaches, and 59% have multiple key management solutions in place.
Thales Support for Retail Data Security
Thales offers a comprehensive solution to address retail cybersecurity challenges. By centralizing data discovery, classification, data protection, and access controls on a single platform, the CipherTrust Platform streamlines compliance and enhances security. Retailers can accelerate cloud migration and compliance, apply policy-based security measures, and protect sensitive information like credit card data in alignment with regulations such as PCI-DSS and GDPR. Moreover, Thales' access management solutions simplify user access to cloud services, enhance identity management, and secure digital signatures, IoT devices, and code signing activities with Hardware Security Modules (HSM). Thales High Speed Encryptors further protect data in motion for retailers, ensuring end-to-end encryption across network traffic, disaster recovery sites, and cloud environments.
Success Stories with Thales
Several retail chains have benefited from Thales solutions. For instance, a major department store chain improved PCI compliance and safeguarded customer data by leveraging the CipherTrust Platform. Another North American grocery chain enhanced data security and key management practices with Luna HSMs, reducing the risk of data breaches. Similarly, a retail grocery chain implemented High Speed Encryptors to protect sensitive pricing and promotional data transmitted across their stores. These case studies underscore the effectiveness of Thales solutions in fortifying retail data security.
Future-Proofing Retail Data Security
As retailers strive to innovate and stay competitive, data security remains a critical aspect of their operations. Thales equips retail organizations to enhance their security posture, mitigate risks, and comply with regulations, thereby fostering digital transformation and reducing operational costs. By embracing Thales CipherTrust solutions, retailers can accelerate their journey towards a secure, resilient, and compliant data environment in the evolving retail landscape.