Vercara’s 2024 Consumer Trust & Risk Report Highlights Cybersecurity Perspectives Among U.S. Consumers
HERNDON, Va., December 16, 2024—Vercara, a prominent provider of cloud-based security services, has released the second edition of its Consumer Trust & Risk Report, shedding light on consumer attitudes toward data breaches and brand trust. The findings indicate a notable decrease in the impact of breaches on consumer trust this year, with the percentage of consumers expressing diminished trust in brands following a breach dropping from 62% in 2023 to 58% in 2024.
This shift could signal a troubling trend toward desensitization among consumers regarding cyber incidents. According to Carlos Morales, Senior Vice President and General Manager of DDoS and Application Security at Vercara, while an increase in trust might seem positive, it may also reflect a weariness or indifference towards the frequency of security breaches. Morales cautions that such consumer sentiment can have dire consequences for businesses, as repeated breaches increase the likelihood of customer attrition.
The report reveals that more than half of respondents—58%—view brands that experience data breaches as untrustworthy. Furthermore, 70% of consumers indicated they would cease to support a company following a security incident. Generational differences are evident in these perceptions, with Generation Z showing relative indifference to breaches compared to Baby Boomers, who are more likely to change their purchasing behavior based on a brand’s security record.
Amid these findings, Vercara stresses that companies must bolster their internal security measures while simultaneously educating consumers about data protection. Morales highlighted the importance of establishing trust through transparency and proactive engagement, noting that a collaborative approach is essential for effective cybersecurity.
Intriguingly, one-third of the surveyed consumers reported having their personal data compromised while shopping online, with the majority attributing breaches to external hacking (36%) and inadequate security measures by companies (33%). A significant portion of Generation Z in particular identified external actors as the principal threat, reflecting a trend of misattribution regarding the sources of data leaks. Insider threats, however, accounted for only 5% of consumer beliefs about breach origins, despite evidence indicating that human error often plays a crucial role in data vulnerabilities.
Moreover, consumer habits present additional risks, as 21% admitted to using the same passwords for work and online shopping accounts, and 57% regularly utilize their work devices for personal purchases, compounding organizational exposure to potential breaches.
As the holiday shopping season approaches, the need for heightened vigilance becomes especially critical. DigiCert’s State of Digital Trust Report emphasizes that only 1% of enterprises feel equipped to respond swiftly to security incidents. In light of this, Vercara’s report underscores the necessity for brands to communicate effectively about their strategies for mitigating future breaches. A significant 44% of consumers believe that clarifying preventive measures is vital to restoring trust post-incident.
The research, conducted in partnership with Dynata, surveyed 1,000 U.S. adults aged 18+, capturing a snapshot of consumer trust dynamics in November 2024 and comparing them with previous findings. This comprehensive analysis aims to inform businesses on consumer expectations and the urgent need for effective cybersecurity practices.
For companies in the U.S. navigating the complexities of maintaining consumer trust amid rising cybersecurity threats, understanding these insights is critical. By integrating robust security practices and fostering informed consumer engagement, brands can better protect themselves against the financial and reputational ramifications of data breaches.
In conclusion, as Vercara articulates, the responsibility for cybersecurity falls not just on corporations but also on consumers. A united effort toward enhanced security awareness and practices may pave the way for a more secure digital landscape.
