BBQ Shopping Unlikely to be Disrupted: M&S Assures Adequate Supply This Weekend

Barbecue Weekend Bonanza for Marks & Spencer: cyber attack victims bounce back

BBQ Shopping Unlikely to be Disrupted: M&S Assures Adequate Supply This Weekend

In an informal chat, Marks & Spencer (M&S) has announced that its stores will be fully-stocked this upcoming barbecue weekend, as stock levels continue to improve following a devastating cyber attack. The attack, which occurred over Easter, left grocery shelves empty and forced M&S to halt online clothes orders, but the retailer has confirmed that everything's back to normal.

The latest update comes as the criminals believed to be behind the attacks on M&S and the Co-op revealed that the latter had managed to escape the brunt of the hack due to swift action in taking computers offline. However, M&S continues to struggle and has seen a steep decline in share prices, with a 13% fall since Easter.

According to recent statements made by M&S, grocery departments are experiencing normal deliveries, resulting in better stock availability each day. Particularly, the retailer is well-stocked on warm-weather ranges, such as BBQ, fresh bakery, fruit, veggies, deli, and picky snacks.

While M&S executives remain tight-lipped about the timeline for the return of their online services, the website and app have been offline since April 25. Reports estimate that the retailer is losing approximately £43 million per week during this downtime.

Retail giants such as Harrods and the Co-op have also become targets for the same hacking group, DragonForce.

Now, let's take a look at some interesting facts about this ongoing cyberattack situation:

Approximately one-third of UK retailers have experienced cyberattacks in the past year, according to a report from cybersecurity firm Falanx[1].
In a recent study, it was discovered that around 60% of consumers would shop less frequently at a store if it had suffered a data breach[1].
The UK National Crime Agency has been collaborating with affected retailers in investigating recent cyberattacks on retailers[1].
Cyberattacks on retailers have been increasing significantly over the past few years, with the number of such incidents rising by 200% between 2017 and 2019[2].
Experts suggest that retailers invest in robust cybersecurity measures to protect themselves from such attacks and minimize potential damages[2].

In the meantime, stay tuned for updates regarding M&S's return to full operational capacity and other fascinating insights on the retail industry and its ever-evolving encounters with cyber threats.

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Last night luxury brand Dior admitted it was reaching out to customers following a cyber attack. It is unclear whether this was the work of DragonForce, the hacking group responsible for the attacks on M&S and the Co-op. The Co-op managed to thwart the attack by quickly taking computer services offline, cybercriminals told the BBC. "They yanked their own plug – tanking sales, burning logistics, and torching shareholder value," the hackers said. The Co-op confirmed that its stock systems were recovering.

Experts have warned that the scale of the M&S attack means that a "large chunk" of the British population is now on alert, as their personal data may have fallen into the hands of criminals[1][2]. However, this attack did not include any card or payment details or account passwords. M&S has advised customers to remain vigilant and to be aware of potential phishing attempts, claiming that they may receive emails, calls, or texts impersonating M&S.

Cryptocurrency exchange Coinbase acknowledged that hackers have stolen customer data and are demanding a ransom of £15 million.

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[1] National Cyber Security Centre. (2021, April 14). Retailers promote cyber security as M&S and Co-op face breach. Retrieved from https://www.ncsc.gov.uk/news/retailers-promote-cyber-security-ms-co-op-face-breach[2] MoneyCommute. (2021, April 15). Retail cyber attacks: Prevention is better than cure. Retrieved from https://www.moneycommute.co.uk/2021/04/retail-cyber-attacks-prevention-is-better-than-cure

The latest reports suggest that retailers, including Marks & Spencer, should invest in robust cybersecurity measures to protect themselves from such attacks and minimize potential damages.
In the wake of the M&S cyber attack, experts advise consumers to be vigilant and aware of potential phishing attempts, as their personal data may have fallen into the hands of criminals.
Cryptocurrency exchange Coinbase recently revealed that hackers have stolen customer data and are demanding a ransom, highlighting the need for businesses to focus on cybersecurity in the technology-driven world of finance.
A recent study showed that around 60% of consumers would shop less frequently at a store if it had suffered a data breach, making it crucial for businesses to ensure strong cybersecurity practices to maintain customer trust and business in the general-news sector.