Marks & Spencer's customers remain loyal despite data breach

As the fallout from the Marks & Spencer cyberattack that threatens to wipe £300 million from M&S's operating profits sinks in, the British retailer appears to have maintained the loyalty of its customer base. 

Interactions with shoppers in stores and on social media indicate a high degree of customer understanding. While customers are frustrated by the inability to order online and product availability issues, a prevalent sentiment is pride in supporting M&S against "evil criminals."

To its credit, M&S has been proactive in its crisis management, providing frequent updates and apologies via email and social media and openly communicating about the personal data breach while warning of scam attempts. Customers, although concerned, are reportedly relieved that bank details were not compromised. In addition, the fact that other major retailers, such as the Co-op and Harrods, have also been targeted and that a third-party supplier is being blamed rather than internal IT weaknesses has also helped M&S's public image. 

However, the Financial Times article concludes that while management may wish to dismiss the attack as a bump in the road, the incident serves as a significant wake-up call for all consumer-facing businesses.

Meanwhile, a related FT article (£) reports that a Scottish law firm has launched a class action lawsuit against M&S for allowing customer data to be stolen. 

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