When embarking upon a new ecommerce venture, it's easy to get swept up in the process. With ecommerce platforms, such as Shopify, streamlining the creation and maintenance of online stores, it’s tempting to blaze through the administrative side of store set up, in pursuit of that intoxicating first sale.
This article will explore five of the main reasons that you might want to consider reviewing and updating your ecommerce privacy page.
Global laws and directives are constantly changing
Your reputation is on the line
Choosing to buy from an online store requires us to expose not just personal but financial data, and as an intangible, digital interaction, this requires a significant degree of trust. Online brands must do all they can to protect and enhance the faith that their customers feel for them.
Privacy is a growing concern
The modern consumer is acutely aware of the value of the information that they give away through their online interactions, and is increasingly concerned about the way in which businesses can leverage and profit from it.
63% of consumers say most companies aren’t transparent about how their data is used. (Tableau)
Go one step further by integrating a data request form (as in this example) into your ecommerce privacy page. Opening a channel of direct communication is a great way of signalling the respect you have for your customers and their personal data.
As interest and expectations surrounding data privacy continue to rise, ensure that customers actively seeking out information are met with a satisfactory, reassuring and crystal clear privacy page, that can help them make an informed decision about shopping with you.
Mistakes can be costly
As new privacy legislation and directives continue to be developed, businesses’ compliance must be incentivized. While the “carrot” of increased consumer trust is often dangled, the “stick” of astronomical fines also hovers in the background...
Fines of up to €20 million are levied by the EU with regard to the worst non-compliance with its GDPR directives. Whilst it may feel hard for smaller ecommerce retailers to relate to this level of penalty, plenty of other warnings, penalties and reprimands await lower-tier offenders!
Streamline your approach to data privacy today
As this article has shown, data privacy is a dynamic and constantly evolving concern, with global legislation and attitudes in a constant state of flux.
As an ecommerce retailer, you benefit from a rapidly evolving and expanding ecosystem – but with all this opportunity comes a growing responsibility.