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This ecommerce & virtual stores guide is a report on the trust economy that explains the technology and transparency measures needed to strengthen bonds between people and corporations
Only a relatively small portion of the public say they understand what is being done with the information collected about them and their identities, and even fewer feel confident in their ability to competently protect their digital privacy; while at the same time, more and more consumers are leaving traces of their activities, preferences, and personal information online. As individuals continue to trade personally identifiable information such as location metadata, online history, and biometric information for convenience and simplicity across the growing online ecosystem, there is an opportunity for companies and brands to provide users with safeguards, transparency, education, and protocols that address these privacy concerns, while also offering proactive solutions for digital security.
The rapid growth of the digital economy has accelerated the free flow of sensitive data across the internet and a growing number of connected devices, often outpacing measures in place to protect that information and educate users around the use of their data by advertisers, governments, brands, and institutions. It is an exciting and pivotal time within the digital economy. Within this report, the PSFK research team looks at nine trends-led strategies in data privacy and security, and brings them to life with a number of best-practice examples and innovations from the marketplace.
To help our community of retail insiders better understand how to build trust with consumer in the digital economy, PSFK has identified 9 key strategies that highlight innovative ways in which technology and transparency are being utilized to strengthen bonds.
This report on trust in the digital economy includes:
This report on trust in the digital economy was developed by the same PSFK research department that since 2004 has provided trends-led innovation consulting advice to Apple, BMW, Facebook/Meta, Google, Microsoft, Samsung and Volkswagen.
An increasingly digital-first world has created new challenges - personal privacy concerns, misinformation, proper behaviors, community engagement, etc. - for audiences of all ages. To interact responsibly and thrive within these online environments and platforms, people need an entirely new set of skills and code of conduct. Recognizing their own role in ethical privacy practices and digital engagement, platforms and applications are updating their approach to user experience by developing interactive guides and educational...Personal Data Profit
While privacy laws and data regulations continue to limit companies’ access to free consumers data, there is still a growing consumer demand and expectation for the personalized content, recommendations, promotions and engagement that this data fulfills. Recognizing the powerful role of data going forward, there is a move to quantify that value and put infrastructure in place to allow people to financially benefit from their contribution. Within this new business model, consumers are rewarded in...Youth Focused Safety
The young consumers of Gen Alpha, and their Millennial parents, are re-shaping online platforms and apps based on a need for youth-focused safety that extends beyond screen time management. Companies are meeting these new digital expectations, spanning education, entertainment, and socializing, by putting tools and protocols in place to keep kids more safe while online. From protecting young consumers from targeted ads and limiting who has access to their profiles to providing parents and kids...
London-based startup InfoSum's decentralized, neutral-data collaboration platform lets businesses leverage customer data assets without impinging on personal privacy as they do so.Square Co-Founder Launches Platform To Return Personal Data To Consumers
New startup Invisibly, from the co-founder of payment company Square, introduces a novel way for users to regain control of their personal data while also profiting from it.Google Plans Branded Privacy Budget Tool To Defend Against Fingerprinting
Technology company Google is planning a new branded tool that limits the amount of information various systems can access or detect in its users’ browsers.