In the past year there has been a 70 percent increase in demand for IT and cybersecurity roles for the retail sector. The demand for new technology products has helped to increase growth but it has also brought with it new consumer and business risks.
The recruitment firm Robert Walters and its analysts have linked this sharp increase directly to the rise of app usage within the sector. This is an area that has grown substantially since the COVID-19 pandemic.
As an example, around three quarters of people in the U.K. have started a preference for conducting at least some of their shopping online.
Mat Knutton, Associate Director of Robert Walters, tells Digital Journal: “The data that is required and stored by retailers from loans, store credit, and ‘by now, pay later’ schemes goes much further than the loyalty card schemes we have seen introduced over the past decade as the primary form of data collection.”
Knutton adds: “As we switch to cashless and online purchases, retailers for the first time are handling hordes of sensitive information – and so online security protocols need to be stepped up significantly if these brands are to avoid any bad PR in the way of data breaches.”
The arrival of Fintech
Perhaps the biggest link to the need for cybersecurity professionals has been around the rise in prominence of buy now, pay later (BNPL) schemes. These are pushed by some types of retailers in order to help drive online sales. According to credit report agency Experian, searches for BNPL products are up 33 percent.
Here Knutton comments: “BNPL schemes have been a crucial element of driving the growth of online retailers, now more than ever amidst the rising cost-of-living – with the schemes enabling customers to buy online regardless of their bank balance.”
AR/VR: A new dimension to bricks and mortar
Online reviews have been useful for many people, including those seeking to buy ahead of time. An important extension of this is with the ability to visualize what the consumer intends to purchase before they even walk into a shop.
This is possible with technology like virtual try-ons (VTOs). This technology is being used by the likes of Nike, Ray-Ban and L’Oréal for customers to test items before they purchase. While Hugo Boss have recently trialled a Picto-fit Mirror, where customers can try-on pieces only available online through a tablet and smart mirror combination now available at all of their U.K. stores.
These innovations provide early signs of hiring for more developers, engineers, and infrastructure specialists across retail. To support these, cybersecurity professionals are also needed to help to protect businesses and consumers from the inevitable flow of bad actors drawn to this area of the economy.
