Customers are becoming increasingly wary of sharing any information about themselves, including their shopping habits and preferences. And who can blame them? Many enterprises have failed to adequately protect consumer data from thieves, while others have misused the information in various ways, such as by tracking shopper movements or selling identifiable data without the individual’s permission.
Since the Facebook data privacy scandal, more people than ever have recognized the potential pitfalls of sharing too much with too many organizations. “These consumers are worried that providing their data to one company means that several other organizations will eventually obtain their data through data selling,” explained Todd Wright, head of customer experience and data privacy solutions at analytics software developer SAS. “Organizations need to be more forthcoming and transparent with the people they hold data on for this trend to reverse,” he suggested.