If a customer trusts a retailer, they're more likely to willingly give up their data.
From that point, a virtuous cycle begins. The data is leveraged to personalize experiences—making recommendations based on previous purchases, providing perks from loyalty programs and altogether tailoring each retail touchpoint to the customer's benefit. This only creates more trust, more loyalty and, ultimately, better long-term customer relationships.
Investing in secure customer data in retail might seem like a tall order. However, it can set up retailers for huge, long-term success based on high-quality experiences and loyal customers.
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