Snippets: Generational shift

More than 90 per cent of Generation Z say that a strong Wi-Fi signal is important to them and their overall shopping experience, according to a survey conducted by HRC Retail Advisory (HRC), a leading strategic retail advisory firm. Emerging in-store technologies and positive social media feedback are among the top priorities for both Generation Z and millennial consumers. The survey, which also revealed a generational shift in how these consumers shop for beauty products, represents the first in a series centred around Generation Z and millennials’ attitudes, behaviours, and shopping preferences. “Generation Z is not only powerful on their own, but they are the ones dragging their millennial parents (who prefer to shop online), back into the mall as well. Understanding these consumer segments and how they apply to a retailer’s business will be essential, as both generations will be crucial to retail strategies going forward,” said Farla Efros, president of HRC Retail Advisory.

Cybercrime toll on biz

A new report by Juniper Research has found that criminal data breaches will cost businesses a total of $8 trillion over the next five years, due to higher levels of Internet connectivity and inadequate enterprise wide security. The new research, The Future of Cybercrime & Security: Enterprise Threats & Mitigation 2017-2022, forecasts that the number of personal data records stolen by cybercriminals will reach 2.8 billion in 2017, almost doubling to five billion in 2020, despite new and innovative cybersecurity solutions emerging.

It highlights cybersecurity problems becoming particularly acute when businesses integrate new and old systems without regard to overall network security. Juniper found that small and medium enterprises are particularly at risk from cyberattacks, spending less than $4,000 on cybersecurity measures this year. Only marginal increases in security spend are expected over the next five years.