Recognizing the vital role consumer data plays in all aspects of retailing, the National Retail Federation (NRF) has launched a new Center for Consumer Privacy and Innovation. The retailer-led initiative is designed to produce research, track privacy legislation and educate the public and policymakers about the value derived from technology that retailers and their solution partners develop. The multi-million dollar initiative was announced at the NRF 2020 Big Show in NYC.
“Retailers recognize the importance of and value the trust placed in their hands by their customers,” said Matthew Shay, President and CEO of NRF in a statement. “The Center for Consumer Privacy and Innovation will provide insight and policy expertise to educate lawmakers as they strive to properly balance consumer protections with retail innovation.”
The Center advocates for a customer-centric privacy approach, according to its web page. It will be releasing a privacy model this year that proposes nationwide regulations based on consumer expectations with respect to business uses of data. The model could be used as the basis for federal or state privacy legislation.
The Center supports six privacy legislation principles:
1. A comprehensive and uniform federal standard;
2. Transparency for consumers;
3. Preserving customer services and benefits;
4. Making all businesses responsible for their own conduct;
5. Statutory obligations for all businesses; and
6. No exemptions — every industry sector handling consumers’ personal information should have equivalent obligations for protecting consumers’ privacy.