Retail Data Privacy
Leading Retailers Know that a Personalized Customer Experience is Critical for SuccessConsumer data overwhelmingly indicates that customers demand a personalized shopping experience tailored to their interests, pricing preferences and events in their lives. To acquire new customers via targeted, personalized marketing campaigns, and increase customer lifetime value as a result of customized experiences, retailers must maximize the utility of their data to remain competitive and gain crucial insights.
Increases in Customer Expectations, Breaches and Regulations Conflict with These GoalsWhile customers want a personalized retail experience, they are increasingly sensitive to what personal data retailers collect as well as how they manage and use it. Regulatory bodies are strengthening consumer protections to guard against data misuse and insufficient protections. And breaches are growing in size and frequency. Privacy laws like CCPA are incorporating more stringent measures, such as the Private Right of Action, empowering consumers to seek compensation directly for violations. These damages can be significant and increase the risk for retailers that leverage personal consumer data to enhance the customer experience.
Data Privacy Must Be an Integral Part of Data Management for Retailers
Leading retailers have many different data users with many distinct and simultaneous goals:
- Increasing conversion rates with targeted promotions
- Evaluating the customer journey to improve up-selling and cross-selling
- Predicting and avoiding customer churn
- Personalizing every part of the omni-channel experience
Simply protecting this ever-increasing wealth of data with security measures like access control is not enough. Data must not be siloed within individual teams if it is going to be effectively used to enhance the customer experience.
The Privitar Platform Enables EnterprisesTo Safely Achieve Successful Relationship RetailingPrivitar delivers uncompromised data utility with a configurable, automated method to minimize risk of data misuse, empowering retailers to more effectively capitalize on their hard-won data and insights:
- Rich de-Identification
- Controlled linkability
- Managed re-identification
- Scalability and automation
- Compatibility with modern data architectures
- Traceability and audit
Ready to learn more?
Our team of data privacy experts are here to answer your questions and discuss how data privacy can fuel your business.