Digital technologies are reshaping consumer demand and restructuring how consumers shop for and buy products. For consumer and retail organizations, the evolution of digital technologies offers the ability to manage costs and streamline supply chain and back office processes as well as to transform consumer data into real customer insights.
However, the fast pace of technology and marketplace change and the vast amounts of available data are combining to create an increasingly complex and interconnected business environment that is challenging consumer protections and regulatory compliance in areas such as data privacy, fairness, and environmental and social policies. Organizations should anticipate new regulatory requirements and potentially oversight from new regulatory authorities.
KPMG’s new Point of View paper, Compliance priorities for digital transformation in consumer & retail, highlights ten areas of potential regulatory challenge that consumer and retail organizations may face as they push toward a customer-centric digital transformation. The paper outlines market drivers and actions organizations can take to maintain compliance and keep digital innovations consistent with current and developing regulatory expectations.