Black Friday is now firmly established as one of the most important shopping days in Canada. A recent survey found that 48% of Canadians consider Black Friday to be the most important shopping day of the year, up from 34% the previous year. Meanwhile, data from Canadian payments processor Moneris Solutions Corporation shows Black Friday regained the top spot as the busiest shopping day in Canada in 2024, with other major events like Boxing Day trailing far behind at only 46% of Black Friday’s transaction volume. While this surge presents a significant opportunity for businesses, it also brings heightened risk — especially for small online sellers, who face increased liability, cyber threats, and operational demands. Here’s what you need to know to safeguard your business this Black Friday.
How to Protect Your Business this Black Friday
When Black Friday rolls around, there is an increased risk of cyber and in-store threats. Since Black Friday is typically a busy time for businesses, it presents many opportunities for hackers to launch scams or plant malicious ads. Additionally, if you have a brick-and-mortar location, retail businesses face an increase in theft during the holiday season. An influx in sales can result in inventory and diligence slipping through the cracks! Let’s examine some of the threats businesses should be aware of.
Common Black Friday/Holiday Threats to Be Aware Of (Online)
Phishing
During the holiday season, hackers often send fraudulent emails or messages that appear to be from trusted sources. However, these emails typically trick employees and customers into disclosing sensitive information, such as passwords or payment details. Always double-check the address from which an email comes.
Ransomware
Attackers may lock your company’s data and then demand a ransom for its release. As business operations become busier during Black Friday, systems are less closely monitored. This makes it easier for ransomware incidents to go unnoticed for extended periods. In many cases, a hacker will not allow a business to operate until the ransom is paid.
Distributed Denial-of-Service (DDoS) Attacks
Cybercriminals may target online retailers with DDoS attacks (distributed denial-of-service) during the Black Friday period. This is due to Black Friday being a high-traffic period for businesses. During a DDoS attack, criminals will overwhelm their website’s server, rendering it unavailable to legitimate users. Attacks such as these can lead to a loss of sales and reputational damage.
Theft of Physical Assets
Due to Black Friday being a busy time of year, thieves have an opportunity to target physical assets. These assets may include laptops, tablets, or smartphones. If in the wrong hands, these physical assets can release sensitive information. This is especially true if devices are not adequately secured!
Cyber Security Best Practices during Black Friday
It is essential to maintain security and be proactive in managing your business’s security. Let’s look at some of the best measures to stay safe this Black Friday:
Make Sure Your Systems Are Updated
It is essential to ensure that all your software and systems are up to date with the latest security patches. Cyber-criminals will often exploit known vulnerabilities when software is outdated. This is why it is crucial to ensure that everything is kept up to date with the latest security measures.
Use Secure and Trusted Wi-Fi Networks
Make sure you are only connecting to trusted networks on your devices. Avoid sharing sensitive information when connecting to public or unknown networks. It is also a good idea to disable the “Auto-Connect” feature on devices. Make sure Wi-Fi and Bluetooth are turned off when not in use.
Educate Your Employees
Human error remains one of the leading causes of data breaches. This is why it is essential to ensure your employees are updated and trained on the best cybersecurity practices ahead of Black Friday.
Implement Multi-Factor Authentication (MFA)
By implementing MFA on all your systems, you will significantly increase the difficulty for attackers to gain unauthorized access to sensitive information. This is a good idea because it keeps hackers out even if they have obtained login credentials.
Always Monitor Your Systems
It is essential to stay on top of your system activity during Black Friday. This can help respond to any potential threats more quickly, minimizing damage or loss of business during this busy time.
Protect Your Business From Physical Theft This Black Friday
Protecting your business goes beyond just taking basic cybersecurity measures. Unfortunately, Black Friday is also a time when burglaries and physical theft begin to rise. When a company is busy, owners are more likely to overlook security measures for the premises. Luckily, there are steps you can take to prevent burglaries and physical theft.
Secure The Premises
Please make sure your business locks are in working condition. To keep your business secure, it is essential to invest in a set of high-quality locks. When you leave for the evening, please make sure that all doors and windows are securely closed.
Invest In a Good Security/Alarm System
A sound security alarm system is crucial for businesses, especially during Black Friday, when you’re likely to have more inventory on hand. Multiple security systems come with phone applications that inform you that a break-in has occurred. If your business deals with valuable items, it may be a good idea to install special glass or bars on the windows.
Invest in Video Cameras
Having video cameras on the property can not only help deter thieves but also help you gather evidence in the event of a burglary. Similar to a security system, many video cameras come with applications that allow you to monitor your business, 24 hours a day, seven days a week.
Keep Your Windows Clear
When your windows are easily accessible, burglars are more likely to target your business. It is important not to leave any equipment or products inside or outside. Additionally, be sure to remove all valuables from sight, meaning anything that may catch a thief’s attention from the window when your business is closed.
Make Sure Your Building is Well-Lit
It is essential to ensure that your building never appears empty or vacant. A good tip to prevent this is to install motion detector lights. It also makes it easier to capture clear security footage when needed. Ensure all entrances to the building are well-lit.
Insurance and Black Friday
When it comes to protecting your business on Black Friday, it is important to have the proper insurance in place to keep you covered. This way, you minimize the amount of money and business lost. As a business, you should ensure that you have commercial general liability, product liability as well as cyber liability insurance. This is especially important if you host a website that sells products online. If you’re ever in the market for new insurance, don’t hesitate to reach out to us at isure. Contact us today!
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