Trust But Verify — Why Trust Became The Top Priority For APAC Retailers
Today’s retailers are facing a juggling act. They’re trying to give customers personalized offers and experiences using the latest technology, to stand out in a globalized market — while also being respectful, transparent, and confidential, with the information that consumers choose to share.
While customer data is the key to providing personalized experiences, building and maintaining trust has become the number one priority for every retailer. Trust is critical to a company’s future success.
“I do believe we will come to an era where that control of our data becomes very important to us, and we will be very loyal in who is giving us the value exchange in respecting that,” says Marcy Larsen, APAC retail industry lead at Microsoft Australia.
The latest technology provides new algorithms and data sets — deep information that marketers can leverage to connect with customers with the promise for better personalization. Still, marketers must examine the ethics behind the data, and the data itself to ensure trust is built.
In a conversation about the new retail landscape in APAC, Marcy Larsen and Scott Rigby, head of digital transformation at Adobe, discuss how to prepare for a consumer world built on transparency, and the brands who are doing it successfully:
- Brands must adopt global privacy standards to establish a level of trust with their customers and be open and transparent with how they’re using customer data.
- Cashier-less, autonomous stores of the future are becoming more commonplace — but just because retailers have new methods of obtaining customer information, they cannot abandon traditional privacy and compliance standards.
- Retailers who want to lead from a real-time customer engagement perspective must identify as both a retailer and technology company, and implement the right ecosystem of technologies to help understand who their customers are and how to effectively reach them.
Watch the full conversation:
Read the Brick and Click collection on the Adobe Blog to learn more about AI and the retail experience.