The global retail industry experienced a 74% rise in company filings mentions of cybersecurity in Q1 2023 compared with the previous quarter, with the highest share accounted for by Chewy with 54% year-on-year increase, according to GlobalData’s analysis of over 180 retail company filings. The growing application of cybersecurity will prove to have a transformative impact on the retail sector. GlobalData’s Cybersecurity market report helps keep abreast of the latest trends in cybersecurity, market opportunity forecast and the competitive landscape. Buy the report here.
Notably, cybersecurity was one of the most frequently referenced themes in Q1 2023, ranking highest in terms of mentions, ahead of batteries and environment, according to GlobalData.
Of the 50 leading companies in the retail industry, Chewy had the greatest increase in references for cybersecurity in Q1 2023, compared with the previous quarter. GlobalData identified 20 cybersecurity-related sentences in the company's filings, an increase of 900% in Q1 2023 compared with Q4 2022. Walmart’s mentions of cybersecurity rose by 800% to 19 and Home Depot’s by 600% to 14 and Amazon’s by 100% to 12 and Five Below’s by 300% to 8.
GlobalData’s Company Filings Analytics also applies sentiment weight to reference sentences, based on whether the sentences are positive, negative, or neutral. Starting at 100 in 2020, an index over 100 is more positive. The overall index for cybersecurity in Q1 2023 was 81.
To further understand GlobalData's analysis on Cyber Security Market Size, Share, Trends Analysis, and Segment Forecast 2021-2026, buy the report here.