Customers expect more from retailers when it comes to brand interactions, and retailers are responding by upping their digital transformation game. But new and improved initiatives like streamlined mobile checkouts, omnichannel commerce, and personalized shopping increase vulnerabilities, are creating growing security concerns.
In fact, 49% of security professionals in the retail industry report that attackers breached their firm’s sensitive data at least once during the past 12 months. This isn’t doing much to increase consumer confidence in retailers’ security, which is already low — 60% of consumers report that current security to protect credit card and personal information isn’t strong enough.
So how do retailers balance customer demands with customer security? The answer: trust.
In this episode, Brendan Miller and Josh Zelonis discuss the paradoxical relationship between consumer tech adoption and trust — and what retailers can do to break down this barrier in the market.