There’s a lot more at stake than hefty fines for companies that fail to meet GDPR compliance standards because reputational damage will compromise customer loyalty in untold ways. But there’s much to be gained with the GDPR, and it all starts with meeting the data privacy demands of customers headfirst. Your customers know this already, and so should you.
Perhaps more than ever before, trust is a leading driver of customer loyalty in the retail sector. Reputations that can be sunk almost instantly by a data breach may take years to recover in the fickle world of social media. But opportunities abound for visionary retailers who are willing to invest in earning their customers’ trust. Now is the time to take the plunge.