Are Retailers' Privacy Protections Enough to Reassure Shoppers?

After a series of cyber breaches, it's no surprise that consumers are growing more concerned about how their personal information—particularly their financial data—is being used and stored. However, in a new study from Capgemini, many felt their primary retailers were doing an "outstanding" job at having proper data privacy measures in place. 

When asked to rate their primary retailer—essentially the one they shop at the most—on a scale of 1 to 7, where one equates to "very poor" and seven equates to "outstanding," some 60% of buyers worldwide felt their go-to retailer does an outstanding" job of making sure their sites and apps are safe. More than half felt the same way about in-store devices, like point-of-sale (POS) systems and self-service kiosks.

Respondents were less likely, however, to say their primary retailer did an outstanding job being transparent about how their personal or financial information was being stored or used. 

By and large, many consumers believe it's the retailer's responsibility to protect their data. In a Transaction Network Services (TNS) survey conducted last year, roughly two-thirds of US internet users felt that way. Still, after a number of recent high-profile data breaches, many consumers have become more proactive in safeguarding their data. According to an American Institute of CPAs survey, some 56% of US consumers have increased self-monitoring of credit and debit card accounts to check for fraudulent activities.