The recent data breach involving four million government workers is an unpleasant reminder of how vulnerable our digital information has become. On the consumer side, high-profile breaches at Target and Home Depot are just two examples of dozens of similar cases. Surprisingly, many retail and financial-services executives think that data breaches have become so common that consumers will quickly forget.
That's anything but true. A survey of 1,060 U.S. consumers we conducted late last year busts five commonly held myths about data breaches – including the misconception that consumers are numb to them. Executives and investors may be quick to forget, but shoppers are not, and that could impact retailers' profit and share price.