Cyber Monday is a critical online event for retailers. Last year, research conducted by Adobe Analytics found that Cyber Monday brought in $9.4 billion in sales, including $3 billion from mobile customers alone. With the ongoing COVID-19 pandemic leaving many customers wary of entering brick-and-mortar stores this holiday season, the expectation is that these numbers will grow as retailers prioritize e-commerce over in-store sales.
Customers will spend Cyber Monday scouring the internet for deals, but they won’t be the only ones on the lookout for a golden opportunity. Major shopping days like Black Friday and Cyber Monday have traditionally been big days for cybercriminals, and they will continue to follow the money in 2020.
In addition to credit card and financial data theft, the recent spike in ransomware attacks represents a significant concern this year, especially as many IT teams continue to operate remotely. Fortunately, there are concrete steps that retailers can take to keep intruders out of their networks.