It’s time for retailers to stop treating cybersecurity as an afterthought.
Major cyber breaches are now not only common but also well publicized. Consumers are understandably wary. Gaining their trust has become more challenging — and more important — than ever.
Don’t believe it?
Recent surveys have found that the majority of consumers are very aware of security breaches, as well as the brands and personal data affected. Worse, a single breach could hurt consumers’ trust in a brand.
On the other hand, gaining consumers’ trust can be a competitive advantage. Consumers are more likely to purchase from a brand that values security and protecting personal information.
That’s the power of retail security.
However, providing high levels of security is only half the solution. Retailers must also understand that their definition of “secure consumer trust” differs dramatically from that of consumers.
This is about far more than semantics. For retailers, it must also translate into new actions.
Specifically, when retailers are asked to define secure consumer trust, they say it encompasses three main elements: protection, intelligence and prevention.
But ask consumers the same question, and you’ll get a completely different answer. Consumers define security as trust, convenience and reliability.
The takeaway? Retailers need to deliver a trustworthy, secure and convenient user experience — and on the terms that consumers themselves expect. To be sure, retailers still need to protect their systems, gather information and prevent fraud and hacks. But retailers must also use cybersecurity to ensure consumers’ continued trust, convenience and reliability.
Ready to learn more — and find out how CSC can help you create the operational efficiency you’ll need to serve today’s consumers? Check out our new position paper, Digital Retail & Consumer: Brand Affinity Through Customer Centricity, and visit us at csc.com/retail for more insights.
Mike Deittrick is the industry CTO for the Consumer, Retail and Transportation business at CSC. A thought leader in enterprise architecture and business enablement strategies, he is responsible for enterprise solution development and enterprise strategy for the Consumer, Retail and Transportation team. Connect with him on Twitter, @mdtricky.