Short- & Long-Term Effects of Network Downtime in Retail
In today’s day and age, we rely on computers in just about every aspect of our lives without giving it second thought. But what happens when there’s a disruption in the network and what does that mean for retailers? If a system suddenly crashes or power is lost, it leads to “downtime.” During the interruption, more than 60% of vendors lose the ability to process payments. This, along with other customer-affecting factors, could result in more than half of retailers experiencing low business productivity.
And it’s not just monetary losses that can affect your business during this downtime. Most significantly, outages can deter customers for a majority of businesses (72%), as they create severely negative impacts on the buyer experience. This loss strikes a critical blow to many areas of the business, not just sales. For instance, one in three businesses report a network disruption directly damages brand reputation.
Building resilient infrastructure designed to scale with demand is a must. Have backup systems and performing routine tests and maintenance are also ways to stay on the offensive on this inevitable occurrence. For more on this, check out the resource below!