Technology is a cool thing. I’m realizing this more and more as I become immersed in the retail tech world. Our retail technology clients are able to help retailers become more price-competitive via price intelligence software, others can connect all the enterprise dots of an international, omni-channel retail organization to keep all the moving parts of the company on the same page. On a more personal level, technology has completely changed the way I communicate – because of social media sites like Facebook or mobile apps like Snapchat, I can instantly connect with with friends in Canada or Europe without leaving my chair or having an exorbitant phone bill, which is no fun.
But as the old saying goes, “With great power comes great responsibility.” Technology allows you to make all these social and business connections, but what about the flip side of it? The security side of it? You’re sharing your information over this invisible dimension and trusting that no one is going to use this information against you.
Technology connects people across the globe. Facebook is a great example of this, but have they taken it too far? Their messenger app recently received a lot of bad press for reportedly using personal contact information and using spyware-type coding, not to mention it’s a completely separate app from the actual Facebook app. This new application brought up a lot of discussion of terms and service agreements and personal knowledge of your privacy, which is something we should all be aware of when checking that little box. Here is a great read about the app and its permissions.
Trust is a major factor in any relationship made, whether between friends or as a loyal customer. Yet there are so many instances where trust is not enough. Take the celebrity photo leak scandal, or the five million Gmail passwords that were leaked. Home Depot is the most recent retailer to have a data breach with more than 2,000 stores affected and customer data exposed. Retail Systems Research analyst, Paula Rosenblum, recently published a great article in Forbes about the data breach and consumer protection.
Apple just came out with a payment platform, Apple Pay. Will our payment and banking information go the way of nude celebrity photos? Yes, Apple has security measures in place, most prominently not utilizing the traditional magnetic strip, but everything is safe until its not.
Retailers undertake a great responsibility using customers information, be it banking or personal, and if (actually these days its more like when) their systems get breached they have to be willing to go above and beyond to regain consumers’ trust.
Most all retailers have taken huge financial and operational strides to ensure their systems are PCI-compliant as to avoid costly customer data breaches. These are huge undertakings to protect us and maintain our trust, but as consumers, we must also monitor and protect our personal information and be mindful of technology’s capabilities, good and bad.