consumer data, big data

Consumer data and privacy concerns

Are consumers getting more comfortable with exchanging personal information for more individualized online shopping experiences? RetailWire, a leading online discussion forum for the retail industry, recently asked this consumer data question, and I, as a RetailWire BrainTrust member, gave it some thought.

Changes in consumer data collection

During my 40+ years in the retail industry, I’ve seen much evolution in consumers’ shopping experiences. One of the biggest changes has been the incredible impact made by the internet and online shopping. It’s become very easy to collect data on consumers through online searching and shopping. With this data, marketers can make informed decisions that benefit our brands and create personal experiences for our customers. But what do consumers think about the collection and use of consumer data?

Are consumers comfortable sharing personal data online?

I am confident that most self-actualized and stable-minded consumers have adapted to the brave new world of data sharing with retailers. I think resistance today is more two-fold:

  1. I’m in a hurry, and I just want to make this purchase quickly. And I don’t have time to be bothered with sharing my personal information. I’m buying groceries, not a new home or car.
  2. I don’t want to give you all of my personal data because I don’t want your junk mail. And I don’t want you selling out my personal data to other firms that will send me mail I do not want.

If retailers and their data partners can give assurance to consumers about how the data will be used, and not used, I think there will be less resistance. What do you think? Leave a comment below!

For more insights on this topic from other RetailWire BrainTrust members, be sure to check out the original post, “Are data sharing concerns still holding back true personalization?” If you want to stay on top of what’s going on in the retail world, and you’re not regularly reading RetailWire, you should be. Click here to sign up for their informative newsletter.