As reported by Stationery News, the latest episode of the BIRA podcast ‘High Street Matters’ challenges the belief that cyber criminals only target major retailers

Hosted by Bira chief operating officer Jeff Moody, the episode brings together insights from Bira CEO Andrew Goodacre, retail futurist and CI&T director of retail strategy Melissa Minkow, and Andrew Maben of Kevin’s Schoolwear in London, who recounts his experience of a real cyber attack.

Goodacre warns that many independent retailers still assume they are unlikely targets. “There is a groundswell of perception within small business owners that the kind of hacking and disruption that the likes of Marks & Spencer have experienced recently is really just a thing that happens to big companies and not small ones,” he said. “It’s a kind of head in the sand approach, not wanting to really face up to that harsh reality that they may be liable.”

The podcast highlights stark statistics showing that 61% of small and medium-sized businesses suffered a cyber attack in 2021. Minkow noted that smaller retailers often believe limited data collection makes them less vulnerable, but emphasised that “this is an issue that every retailer, unfortunately, is facing regardless of size.”

Goodacre urged independent retailers to plan for the worst. “We need to get our members to think about the impact of a cyber attack,” he said. “What would you do if you lost access to your website? How would you deal with it? That plan of action, committing those steps down, is becoming increasingly important.”

Minkow added that although cybersecurity can seem expensive, failing to invest often proves far more costly. “Any strong data strategy should incorporate a cyber security plan,” she said.