RetailTechNews’ weekly roundup brings you up-to-date research findings from around the world. In this week’s edition: Digital Transformation in Retail; Data Concerns for Brits; and GDPR Deadline Looms.

Digital Transformation in Retail

Firms in the retail sector are among the most likely see a negative impact to their business if they do not embrace digital transformation in 2018 – but the sector also has the most to gain if it does, according to Alfresco Software.

The Retail sector is the most likely to see its business improve if it embraces digital transformation in 2018 (30%), above Banking (24%) and Healthcare (24%). However, 29% of IT decision makers believe Retail will be negatively impacted if it does not digitally transform, second after Banking (40%).

Two-thirds of Retail IT decision makers believe they are more likely to be disrupted by digital transformation in 2018 than be a disruptor. Lack of budget and people resource investment (61%) is cited as the key reason why firms are likely to be disrupted.

When it comes to their own companies, 50% of IT stakeholders think they are leaders and will disrupt; while 50% feel they are behind and will be disrupted by the competition in 2018. According to IT stakeholders, the top predictors of success are the vision of their technology leadership (62%), the ability of their technology teams to execute (58%), and the capabilities of new technologies, such as cloud, AI, and IoT (57%).

Data Concerns for Brits

British consumers are so worried about sharing their personal data with companies that seven out of ten (71%) actively avoid creating new accounts with companies, according to new Mintel research.

Despite the imminent enforcement of General Data Protection Regulations (GDPR), giving EU consumers more control over how companies use their personal data, Mintel finds that even young consumers, who are generally more relaxed about sharing their data, are similarly worried. An apprehensive two-thirds (66%) of 16-24-year-olds limit starting new accounts due to data worries, with anxiety peaking among the 55+ age group (81%).

The safety of their financial data (such as credit cards) causes Brits the biggest consternation, as 87% say they are concerned about sharing these details with companies. Brits are also nervous about the security of their email content (85%), while 73% worry about the security of their web browsing history.

Giving away their location is a big concern for young people, with 73% of 16-24-year-olds saying so, compared to 69% of Brits overall. This is the only data-sharing category that this age group was more anxious about than the population as a whole.   

GDPR Deadline Looms

Four-in-five (81%) marketers are confident in their understanding and preparedness for GDPR, as the deadline draws near, according to the DMA.

However, one-in-five (20%) marketers state that their employers are behind schedule and will not be ready to comply with GDPR by 25 May. Worse still, 7% state that their organisation does not have a plan in place for GDPR.

One of the biggest priorities for marketers, and their organisations, surrounding GDPR revolves around staff training – with a spike in the past six months in the percentage of marketers who feel they have received appropriate training for GDPR, up 21% from November 2017, to 54% in the latest survey.

However, it is a concern that despite the complexities of GDPR compliance, and its impact on how organisations communicate with customers, more than a quarter of marketers polled (27%) have had no specific training to date. A third (34%) feel that more training was needed and approximately 68% believed training will help their organisation comply beyond the deadline.This content was originally published in RetailTechNews.