3. How to solve the “consumer insights vs. privacy”
issue/trusted digital consumer engagement
Physical retailers have long been confronted with privacy
regulations when it comes to analyzing customer interaction
data and using it for individualized service. As digital shopping
grows, consumer awareness and concern about privacy in
e-channels is increasing as well.
Trust is an essential element in addressing this issue, but
how should the industry go about establishing trust with
consumers in the digital world? A key idea raised was
the importance of self-regulation rather than government
regulations. This might come in the form of a “code of
conduct” to ensure consistency in how companies engage
with consumers or the development of a common “digital
persona” database or “universal digital profile.”