By Ryan Kearney, RAM General Counsel
The success and sustainability of any retail business depends on the establishment of long-term customer relationships. Such relationships are built by providing positive customer experiences as well as earning and maintaining the customer’s trust. The collection and utilization of information provided by consumers, and the manner in which the retailer treats such information within its possession play a key role in both aspects of such relationship building.
The collection of consumer data is therefore an essential part of any retail business. It is necessary for the completion of sales transactions, deliveries, and returns, for the detection of fraud, and for the administration of consumer loyalty and discount pricing programs. In each instance, data provided by the consumer allows for more efficient business operations and a more positive customer experience.