Slaves To The Machine

The continuing saga of the UK retail cyber attacks, in particular the M&S one, which has seen a £750mn hit to its share price since it had to go offline to sales, was touched on in a piece by Claer Barrett in this weekend's FT, highlighting not just the knock-on effects of the attack on its investors' responses, but also the potential future effects on its brand and the loyalties of its customer base. As she rightly points out, the brand's demographic base is people in the middle to upper age bracket, who are probably somewhat less fickle and volatile in their shopping habits than younger age groupings. But the company's somewhat tardy response to the event and in getting their systems back in order reflects a kind of 'late-to-the-party' approach in engaging in twenty-first century retail practice in the first place. The relatively poor take-up and management of their loyalty card, and also only relatively recent deployment of self-service checkouts that are...