Retail

An industry involved in the sale of goods to the public through various channels, such as physical stores, online platforms, and direct sales.

Threats & Risks

Natural Disasters

The retail industry may be susceptible to natural disasters such as floods, hurricanes, tornadoes, earthquakes, or wildfires which could cause damage to the physical infrastructure of the retail stores and warehouses.

Fire Hazards

Fire hazards like electrical short circuits, overloaded power sockets, and combustible materials can cause a fire to break out in the retail store or warehouse, which can lead to significant property damage and potential loss of life.

Structural Issues

Structural issues like leaky roofs, cracked walls, and unstable flooring could lead to unsafe conditions for employees and customers and can result in property damage

Equipment Failure

Equipment failure like malfunctioning elevators, escalators, or HVAC systems could lead to potential safety hazards for employees and customers and can cause disruptions in the retail operations.

Physical Security Threats

Retail stores are vulnerable to theft, burglaries, and vandalism, which could damage the infrastructure and harm employees and customers.

Pest Infestations

Pests like rodents and insects can damage products, contaminate food, and cause health and safety hazards for employees and customers.

Power Outages

Power outages can cause disruptions to retail operations, including the inability to process transactions, communicate with customers, and refrigerate or preserve perishable goods.

Phishing and social engineering attacks

Cybercriminals can target retailers with phishing emails and social engineering attacks to trick employees into sharing login credentials or other sensitive information. These attacks can also be used to spread malware, steal data, and gain unauthorized access to systems.

Ransomware attacks

Ransomware attacks involve encrypting a retailer's data and demanding payment for the decryption key. These attacks can disrupt operations and cause financial damage.

Point-of-sale (POS) system attacks

POS systems are often targeted by cybercriminals looking to steal credit card data. Attackers can install malware on these systems or use stolen login credentials to gain access to the network and steal payment information.

Third-party vendor attacks

Retailers often work with third-party vendors, such as payment processors and supply chain partners. These vendors can be a weak point in the retailer's cybersecurity defenses if they have weak security measures in place, making them targets for attackers looking to gain access to the retailer's network.

Point-of-sale (POS) attacks

Hackers can use malware or other techniques to steal payment card data from retail POS systems. This can occur through physical access to the POS device, or through remote access via the internet.

Insider threats

Retail employees with access to sensitive data can inadvertently or intentionally cause a data breach, whether through a mistake, malicious intent, or through social engineering tactics.

Online shopping fraud

E-commerce sites are a popular target for hackers looking to steal customer information, such as login credentials and payment card details.

System Downtime

Any disruption to the IT systems such as hardware failure, software bugs, or natural disasters can lead to system downtime, resulting in a loss of business operations and revenue.

Data Loss

Data is critical for retail businesses, including customer data, financial data, inventory data, and sales data. Any loss of this data due to cyber attacks, system failures, or natural disasters can lead to severe consequences for the business.

Payment Processing System Failure

Retail businesses rely heavily on payment processing systems, and any system downtime can impact the business's revenue and reputation.

Cloud Service Provider Failure

Many retail businesses rely on cloud services for data storage and other IT functions. Any failure by the cloud service provider can result in data loss, system downtime, and other issues for the business.

Supply Chain Disruptions

Disruptions in the supply chain, such as raw material shortages, transportation issues, or supplier bankruptcy, can impact the availability of products to sell.

Power outages

Power outages can disrupt operations, leading to lost sales, reduced productivity, and possible damage to equipment.

Store closures

Unexpected store closures due to issues such as fire, water damage, or structural problems can impact revenue and customer loyalty.

Pandemics

Outbreaks of diseases like COVID-19 can force retailers to close stores, impacting revenue and supply chains.

Theft and vandalism

Retailers are at risk of theft and vandalism, which can result in lost inventory, property damage, and increased insurance premiums.

Labor disruptions

Labor disruptions such as strikes or other forms of protest can disrupt operations, leading to lost sales and reduced productivity.

Standards Compliance Requirement

Standards	Requirement	Clauses
ISO 27001:2022	Information Security Management System (ISMS)	5.24 – Information security incident management planning and preparation 5.26 Response to information security incidents
ISO 45001	Occupational Health & Safety management system	6.1.2.1 – Hazard identification 8.2 Emergency Preparedness and Response
ISO 9001	Quality Management System	8.2 Emergency preparedness and response