The backlash has started in earnest

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dragon452
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The backlash has started in earnest

Postby dragon452 » Sat Oct 25, 2014 7:52 pm

This article sums is up perfectly (the same info was covered on the network TV news as well:

http://mic.com/articles/101802/bad-news-for-target-holiday-shoppers-plan-to-skip-breached-retailers

So, Target may (or may not, hopefully) lose 45% or more of their credit card business this holiday season because the public is wary/afraid to make credit purchases there. The other large chain stores hit by hackers (which now includes Staples Office Supplies) may expect similar drop offs in business.

Now, large American businesses (and the banks they deal with), are finally going to get a bitter taste of what happens when security is ignored (for years), and the publics trust is lost. Of course, the executives who "earn" twenty million dollars a year plus expenses and bonuses don't really care about the public or a job poorly done: they can pay cash for their purchases. Just my opinion, thanks for indulging me.


whit
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Postby whit » Sat Oct 25, 2014 9:49 pm

Seems like a nice coverup for why businesses wouldn't be doing so well this holiday season as opposed to the economy not picking up the way it should

I think there's been a slight ding, in targets traffic but not tremendous enough to lose 45% of their business, maybe a chunk of that in cc..slight chunk.. and the rest using cash instead (which is good because why buy with what you don't have)

and those who have, probably aren't too worried because they know unauthorized purchases, they're not liable,

Actually never used my debit card at target, always credit card *knock on wood* no numbers stolen yet, but at least if anything is tangled up, it would be my CL and not my actual cash..

Just shopped at target two days ago..seemed pretty busy for a weekday.

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Postby Obi-dan » Sat Oct 25, 2014 11:17 pm

The survey was conducted via creditcards.com. I'm not sure the people on that site represent a general feeling of the American Consumer. I would think the people utilizing creditcards.com are more concerned about credit issues than most people.

I would be shocked of the number was anywhere that high.
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Brad Bishop
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Postby Brad Bishop » Mon Oct 27, 2014 2:47 pm

I'd guess that the average person would think:

"Oh, that was last year. They've fixed that, now."

- with regards to Target

I would think that it wouldn't be that far off for Home Depot or any others.

Most people aren't concerned with security. You can see that with the FDIC. They don't care that the guy running their bank is allowing improprieties, they care that their funds are safe. People don't care that their credit card is stolen, only that they're not liable.

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kcm7
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Postby kcm7 » Mon Oct 27, 2014 4:48 pm

Obi-dan wrote:The survey was conducted via creditcards.com. I'm not sure the people on that site represent a general feeling of the American Consumer. I would think the people utilizing creditcards.com are more concerned about credit issues than most people.

I would be shocked of the number was anywhere that high.


If you go through to the actual survey, turns out it was a phone survey conducted by a third party:
http://www.creditcards.com/credit-card-news/shopping-after-breach.php

So it's not just CreditCards.com users.

But that number also seems high to me. My guess would be people are *saying* they won't shop at Target/breached retailers because that seems like the smart, responsible thing to say, and maybe they are thinking, "Yeah! I'll avoid Target!" But, when it comes down to it and they need whatever trendy toy is 'in' this year, or wrapping paper, etc., and it's 2 days before Xmas, they'll go to Target. I know I'll be there.
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Postby dickey1331 » Tue Oct 28, 2014 12:10 am

Funny I just read a story yesterday about how Target is offering free shipping this holiday to bring back customers. No way they lose 45%.
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Postby Nixon » Tue Nov 04, 2014 8:27 pm

dickey1331 wrote:Funny I just read a story yesterday about how Target is offering free shipping this holiday to bring back customers. No way they lose 45%.


They just might. On shipping!
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Postby takeshi » Wed Nov 05, 2014 7:47 am

(nm -- didn't read the whole thread before hitting reply)

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Postby alexmt » Wed Nov 26, 2014 6:46 am

Well, to be honest, if Target really cared they'd have got their chip readers enabled and also enabled contactless acceptance (both of which their new terminals support) before the holiday shopping season. Instead, they have brand new chip and contactless capable terminals that they're running in magnetic stripe mode through the year. Yeah, not exactly confidence-inspiring...



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