The retail industry encompasses businesses and entities engaged in the sale of goods and services directly to consumers. It includes various formats and channels, such as physical stores, online marketplaces, and wholesale distribution, serving a wide range of products from food and clothing to electronics and household items. Retailers act as intermediaries in the supply chain, purchasing goods from manufacturers or wholesalers and selling them to end customers for profit. The industry is characterized by a diverse array of business models, including small independent shops, large department stores, and global e-commerce platforms. Key aspects of the retail industry include inventory management, customer service, marketing, and logistics. It plays a critical role in the economy by providing jobs, driving consumer spending, and influencing trends and innovations in consumer behavior.
A Retail giant faces unprecedented challenges in its cybersecurity efforts amid a surge in cybercriminal activities targeting the industry. The recent cyberattack on a leading retail chain exposed vulnerable points…