As retailers seek to build personalized and engaging customer experiences, they’re collecting more consumer data than ever before. PwC’s US Cybersecurity and Privacy Leader Sean Joyce returns to Retail Gets Real to talk about how retailers must build trust with the consumer around their use of customer data.
Joyce says that as experience becomes the focus of retail, companies that are focused on transparency are the retailers that will succeed. “It’s [about] ‘trusted data optimization,’ where you’re helping [retailers] optimize the data they’re collecting but also, building trust at the same time with the customer.”
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Consumers are often willing to provide companies with data about their purchases if there is a benefit to them such as a unique experience or relevant personalized offer. Joyce says transparency about what data is collected from customers and how it is used will help retailers form a trusting relationship with consumers.
As retailers evolve and begin to enter partnerships with other companies such as those offering smart home devices and health apps, protecting consumer data and building trust with the consumer becomes even more important.
Listen to the episode to discover more about data privacy and the customer experience, including how the California Consumer Protection Act impacts retailers.
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