Will TJ Maxx Lose 77% Of Its Customers Over Data Breach?
from the somehow,-we-doubt-it dept
It's easy to get people to say what you want them to say concerning how they would act in a specific situation, but try watching how they actually act and you'll realize that actions definitely do speak a lot louder than words. Some researchers are reporting that approximately 77% of people say they would stop shopping at stores that suffer data breaches. Interesting timing, given the huge data breach by TJX, owners of stores chains like TJ Maxx and Marshalls. While it is likely that the publicity around this story (including the fact that some of the data has already been used in various scams) will have some people thinking twice about shopping at TJX stores -- somehow we doubt they're going to lose anywhere near 77% of their business. It's easy to say you won't shop there, but when it comes time to buy the kids cheap clothes for the new school year, people will go right back to their old habits. Perhaps that's why companies don't seem to take these data breaches very seriously. Despite lots of anger, it doesn't seem like people actually follow through. Another study that came out today tries to quantify just how costly data breaches are, and finds that it tends to cost companies from $90 to $305 per lost record, suggesting TJX's breach will cost it $1.35 billion -- however, many people say that's probably a lot higher than what it will turn out to be in reality. TJX will get a slap on the wrist, people will keep shopping there and the company will probably be just as likely to lose your data in the future as it was in the past.