We go over all of these questions briefly, and help you to implement data protection and privacy policies in your retail business.
With that preamble, let us dive in.
Are you GDPR compliant?
How does that apply to a retail business in another part of the world?
GDPR applies to all retailers who process personal data of users in the EU, regardless of where the retail business is headquartered. And since you most likely process data from EU users in one way or another, it’s important to be GDPR compliant.
Yet with growing cybercrime comes a greater responsibility to protect user data at all costs. For starters, familiarize yourself with the GDPR.
Then ensure your retail business is GDPR compliant at all points of contact be it in-store or on your website and mobile apps.
Why is it Important to adhere to data privacy regulations?
Personal data is just that, personal. If a user entrusts you with personal data, it’s your responsibility as a reputable business to protect it with your blood, sweat and tears.
Loss of brand reputation
For starters, your brand reputation hangs on the line. Data breaches are usually nasty, especially when personal data gets in the wrong hands. It’s not a mere inconvenience; it’s devastating to your customers, and bad for brand credibility.
Data breaches are expensive
GDPR fines are brutal, but that’s only one part of the story. Data breaches are costly, no matter how you look at it. Investigating, sealing the security hole, and recovering data are time consuming and costly.
If you cannot run your business thanks to a catastrophic data breach, you lose revenue every second your business is out of operation.
Battling it out in court, too, doesn’t come cheap, especially when you’re made to pay huge amounts in compensation fees and so on.
Therefore, it is important to implement data protection and privacy policies in your retail business. Firstly, it’s honorable and, secondly, it shields you from huge losses.
The following tips will help you to implement data protection and privacy policies in your organization and multiple stores. The tips cover everything from your points of sale, websites, apps and all other methods you use to collect data.
Use transparent methods
How do you collect data in your retail stores? Do you use surveys, POS, field studies, questionnaires, quizzes, and giveaways to collect user data?
Do you collect personal data on your website or apps? Do your users understand how and why you’re collecting their data? Do they know how you plan to use the data?
Do you use WordPress? With a huge chunk of websites running on WordPress, your answer is probably yes and protection from hacking is necessary. If you don’t have a website for your retail business in this time and age, please step out.
The rest of you, you can use a plugin such as Cookie Notice to make your website GDPR complaint. There are many other GDPR compliance WordPress plugins out there, so pick one that suits you.
While making your website GDPR compliant is commendable, implementing data protection goes far and beyond merely using a plugin.
You must implement stringent data security measures to keep data breaches at bay, online and offline.
You can leverage a tool such a Zipline to manage your data protection and privacy policies across the entire company. The tool helps you to stay on top of in-store communication, allowing you to deliver and manage relevant documents/information from a central dashboard.
Stay in the know
Data protection and privacy laws change all the time. GDPR is just one of the latest changes to EU data privacy regulations. In every jurisdiction, there are different data protection and privacy regulations, and they change from time to time.
How many of these regulations apply to your business? Are you compliant? Staying informed is the only way to stay ahead. Data privacy regulations change all the time, which is why companies update privacy policies regularly.
Stay in the know by following popular websites such as Deloitte, and TechRepublic, among others. With new & malicious cyber threats every second, you need information to stay ahead of the criminals. As such, your data protection team must have the guys who ensure your “…company is current and compliant with data privacy regulations.”
Take a comprehensive approach
So, we rushed to implement GDPR complaint notices on our website, and updated our privacy policies. Now what?
Is that all you need to be really GDPR complaint? Is that all there is to data protection and privacy? Certainly not.
There are many in-store changes needed to make your retail business compliant with data privacy regulations.
How do you protect data in your stores? How is the data used? Has the user said, “Yes, you can use my data?”
Think beyond your website, and consider how you handle data in stores, headquarters, district office and so on. Think beyond GDPR, and mull over the other regulations with which you must comply.
To implement data protection and privacy policies across your organization, you need to take a comprehensive approach that accounts for every aspect of data and privacy protection.
At the end of the day, data privacy protection is all about ensuring the user’s data does end up in the wrong hands. It also means the integrity to use the data for its intended purpose only.
We hope the post offered you the impetus you need to start implementing data protection and privacy policies in your retail business.
There is no one single approach to implementing a solid data protection strategy since each business is unique. All the same, we would love to know what you think.
How do you implement data protection in your retail business? Do you have a different opinion? Please let us know in the comment section too ?
Other than that, invest in data security. If you implement data protection effectively, you’re free of hefty fines to the tune of millions of dollars. Now, you don’t want that, do you?