“We know our clients and their needs… We aim to provide consistently high-quality products and services for them. We should also take care of the scalability of our website since we don’t want to lose customers due to the failure in the peak hours, right?” – that’s a logical and viable strategy for running an online retail business. Despite your dedication to customer satisfaction and the seamless operation of your platform, threats may be silently lingering, working their way into the system without any consequences, like performance degradation.
Online shopping has become a common part of our daily lives, with a projected 267.83 million digital buyers expected in 2024. The proliferation of e-commerce sites, numbering between 12 million and 24 million worldwide, shows the convenience it brings. However, this convenience is not without its challenges, as the broad digital landscape exposes us to various web-based threats.
The growing landscape of technologies complicates security mechanisms, often focusing on scalability and reliability during peak hours while omitting crucial security features. While your customers enjoy the comfort of online shopping, the security standing behind the walls of their shopping experience often goes unnoticed. Customers willingly share sensitive information without visibility into how it’s used or stored. Examples of this sensitive data include
- credit card details
- personal contact information
- login credentials
- purchase history
Simultaneously, online retailers, with their intricate network of API connections and third-party dependencies, become susceptible to client-side and business logic abuse attacks. Recent research by Verizon reveals that web application attacks are implicated in 26% of all breaches, making them the second most common attack pattern. However, it’s not just applications that are vulnerable. According to SiteLock’s analysis of 7 million websites, the average site faces a staggering 94 attacks every day and is visited by bots approximately 2,608 times a week.
In this digital battleground, prioritizing the security of your e-commerce platform is not just a choice but a necessity. With cyber threats evolving at an alarming pace, failure to safeguard your customers’ sensitive data could result in irreparable damage to your brand reputation and financial losses. Consider the financial aspect – the cost of data breaches for online retailers is substantial. IBM Security’s annual “Cost of Data Breach Report” revealed that the average cost of a data breach in the retail industry is $3 million. This cost encompasses expenses related to investigating and containing the breach, notifying affected customers, and the subsequent loss of business due to a damaged reputation.
Enter Codesealer, a solution that secures your web application without requiring additional code changes or causing delays in time to market. With Codesealer, we seal the APIs, exposed scripts, and customer data, leaving no chance for violation and ensuring a robust defense against evolving cyber threats.
As an online business owner, are you ready to provide a secure experience for your customers?