Technology adoption in cybersecurity: A Delphi study of the UK E-commerce businesses

Cybersecurity is becoming increasingly critical in the digital world. However, the literature lacks a comprehensive understanding of the impact of cyberattacks due to the absence of accessible data and well-accepted analysis methods. This knowledge gap not only hinders our understanding of the true cost of cyberattacks but also limits our ability to identify and prioritise the most effective cybersecurity technologies and other mitigation measures. To address the gap, we conducted a three-stage exploratory Delphi study with 14 experts working in the UK E-commerce industry. Our study aimed to recognise the impact of cyberattacks and their measuring methods, security technologies, challenges, measures, and adoption barriers. Our findings suggest that while technology adoption is essential, E-commerce cannot rely solely on technology to mitigate cybersecurity risks. Awareness education and skills training of individuals, as well as the development of formal security policies and processes, are equally important. In fact, effective mitigation strategies should consider technological, organisational, and environmental factors. Our study presents significant theoretical and managerial implications by identifying methods to measure cyberattacks’ impact on reputation and productivity as well as recognising the most effective cybersecurity technologies and measures to better safeguard our most critical systems and information against the growing threat of cyberattacks.