Log in or Register for enhanced features | Forgotten Password?
White Papers | Suppliers | Events | Report Store | Companies | Dining Club | Videos
General Retailers
Hypermarkets & Supermarkets
Return to: RBR Home | General Retailers | Hypermarkets & Supermarkets

Survey says UK retailers lag behind in GDPR compliance race

Published 26 April 2018

An EU survey of senior retailers has revealed that the UK is less prepared for General Data Protection Regulation (GDPR) compliance than Germany or France, and more likely to see data transfer as a threat.

This is according to an Oliver Wyman survey of 277 senior retail executives in the UK, France and Germany designed to explore the risks and opportunities associated with GDPR, which comes into effect on 25 May.

Almost half (46 percent) of the UK respondents in the survey by the global management consultancy acknowledge that their organisation will not be fully compliant (compared to 32 percent and 39 percent in Germany and France).

Seventy-one percent see data transfer requests as a significant threat (compared to 65 percent in Germany and 56 percent in France).

Only 17 percent of executives across all markets view GDPR as purely an opportunity, yet 78 percent report that owning, managing and working with customer data plays an important role in their business.

More than a quarter (26%) say it is “fundamental to everything they do as a business.”

Oliver Wyman retail and consumer goods partner Duncan Brewer said: “While UK retailers are taking GDPR seriously and investing resources in the lead up to the enactment of the EU regulation, it appears they are claiming to be less prepared and more likely to view the legislation as a threat than those in other European markets.

“Across Europe our research shows that senior retail executives are very concerned about data deletion and transfer. Yet it would require a fundamental change in consumer behaviour for retailers to be inundated with customer requests as we are seeing little concern for privacy among consumers.

“Most consumers are likely to continue to offer their data in exchange for improved services and convenience.

“Unless GDPR leads to a significant shift in consciousness around data privacy, retailers will have spent a significant amount of time and effort building offensive and defensive strategies for minimal benefit.”

On average, the survey shows that organisations are devoting 10 employees, including six new hires, to GDPR in an effort to ensure compliance.

Fifty-six percent of executives say their companies are introducing stronger data security measures to increase customer’s trust and 40 percent are exploring price and service incentives for customers who don’t request that their data is deleted or transferred.

Oliver Wyman surveyed 277 senior executives within the retail industry in the UK, France and Germany, with an equal spread of respondents across each market.

Source: Company Press Release