How Data Trading Affects Your Shopping Habits And Privacy [Future of Retail]
Customers are willing to trade personal data, as long as they get something in return.
Think of the last product you researched online. Whether it was a purse, a new toaster or a pair of shoes, chances are that item started following you around the web. Increasingly our shopping habits are being tracked in the hopes of learning more about us and driving us to sale. What’s more, thanks to our mobile devices, this monitoring is no longer confined to the digital realms as brands and retailers try to understand where we shop, what we look at and for how long. But as people have become aware of this clandestine activity, they’ve begun to raise questions about invasions of privacy, which has put the entire data-gathering process under scrutiny. But what if this tracking was transparent and what if shoppers were rewarded for sharing their personal details?