2018’s Holiday Sales Outperform Retailers’ Predictions

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The days of long, unruly lines and 24-hour camp-outs in front of major retail locations appears to be a spectacle of the past. Shoppers tired of playing retailers’ hold-out games in order to get the best prices on holiday purchases have changed the long-standing dynamics of Black Friday shopping. Historically the absolute best shopping day of the year for retailers, the day after Thanksgiving in 2018 saw a significant shift in shoppers’ antics. Still the best day of sales for retailers across the spectrum, Black Friday was less stressful for customers. The increasing popularity of online retailers and major big box stores breaking with early promotions resulted in a much more civil launch to the Holiday shopping season.

Online spending was predicted to see big gains and reality did not disappoint the prognosticators’ early predictions. Online spending reached $3.7 billion on Thanksgiving Day, up 28 percent from previous years. Four-day Black Friday weekend sales totaled about $60 billion, according to retail advisory firm Customer Growth Partners. Smart phone sales set new records with customers using their smart devices to spend $2.0 billion.

Apparel retailers found new favor from consumers with an 8 percent increase in sales. Black Friday weekend saw several major retailers out in front of their best predictions. “Not all apparel is doing great,” said Craig Johnson, president of Customer Growth Partners. “The biggest growth over the past few months has stemmed from activewear retailers like Nike and off-price companies like T.J. Maxx..” In general, brick and mortar and online retailers experienced their best performance in decades. “In sales terms, this has definitely been a very strong holiday — one of the best since 1999,” said Neil Saunders, managing director of research firm GlobalData Retail. “Momentum in the consumer economy, confident shoppers and more discipline from retailers have all helped to boost spending.”

Department store sales were down 1.3 percent from November 1 through Christmas due mainly to an inability to capture an increase in their online channels. Store closures also muted holiday sales as traditional department stores reposition brick and mortar strategies. Successful smaller retailers are transforming stores to meet the specific needs of local markets and customers resulting in a new and popular shopping environment that is drawing favor from consumers.

All in all, the 2018 holiday shopping season delivered on predictions and resulted in a much appreciated Merry and Happy holiday for retailers across America.

We Give Thanks for All the Many Blessings in Our Lives

As we prepare to celebrate another day of Thanksgiving we are reminded of past holidays and the traditions of a day set aside to give thanks for those things most valued in our lives. It’s not surprising that Thanksgiving Day elicits memories of abundant splays of food, drink and jovial comradery of family and friends. The first Thanksgiving, generally credited to have been a celebration of good harvest, took place in 1621, when English Pilgrims at Plymouth Plantation in Massachusetts shared a meal with their Native American neighbors.

Since its declaration of an official National holiday in 1939, the second to last Thursday in November is recognized as a time to reflect and express gratitude and appreciation for those many blessings we experience in our daily lives throughout the year. While the day brings a diverse array of memories and celebration for each of us, the Day’s traditions may best be expressed in a poem by Edgar Albert Guest, a 20th century, English born American poet.

Thanksgiving by Edgar Albert Guest

Gettin’ together to smile an’ rejoice,

An’ eatin’ an’ laughin’ with folks of your choice;

An’ kissin’ the girls an’ declarin’ that they

Are growin’ more beautiful day after day;

Chattin’ an’ braggin’ a bit with the men,

Buildin’ the old family circle again;

Livin’ the wholesome an’ old-fashioned cheer,

Just for awhile at the end of the year.

Greetings fly fast as we crowd through the door

And under the old roof we gather once more

Just as we did when the youngsters were small;

Mother’s a little bit grayer, that’s all.

Father’s a little bit older, but still

Ready to romp an’ to laugh with a will.

Here we are back at the table again

Tellin’ our stories as women an’ men.

 

Bowed are our heads for a moment in prayer;

Oh, but we’re grateful an’ glad to be there.

Home from the east land an’ home from the west,

Home with the folks that are dearest an’ best.

Out of the sham of the cities afar

We’ve come for a time to be just what we are.

Here we can talk of ourselves an’ be frank,

Forgettin’ position an’ station an’ rank.

 

Give me the end of the year an’ its fun

When most of the plannin’ an’ toilin’ is done;

Bring all the wanderers home to the nest,

Let me sit down with the ones I love best,

Hear the old voices still ringin’ with song,

See the old faces unblemished by wrong,

See the old table with all of its chairs

An’ I’ll put soul in my Thanksgivin’ prayers.

 

President John F. Kennedy once said, “As we express our gratitude, we must never forget that the highest appreciation is not to utter words, but to live by them.” At Junction Creative Solutions (Junction) our goal is to live by our words.

In this emotionally and politically charged competitive environment, we too often forget to be kind to one another, to appreciate the diversities of our lives, to be empathetic to our individual challenges and to demonstrate our appreciation for the opportunity to share our lives with others.  “At Junction,” says Julie Gareleck, Founder and CEO, “we are thankful for our dedicated, creative and talented team of professionals who work every day of the year to bring solutions to the challenges of our clients and are greatly appreciative of the love of our family, the comradery of friends and the respect of our associates.”

Our sincerest wishes, to all, for a happy Thanksgiving Day!

“What is old is new again” May Be the Most Surprising Trend in Marketing in 2019

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Believe it or not, we have once again come full circle on another year. Marketing prognosticators are polishing their crystal balls of future things to come and declaring how technology will revolutionize our channels of communication with consumers in 2019.  Last year’s predicted trends are being measured against reality, and the process is becoming akin to scoring a competitive game of sport.

As with so many games in life the results of our collective efforts to predict the future of marketing tactics and activities are never completely aligned with perfection. Shifting consumer expectations and the response to accepting new communication technologies make the playing field difficult to read and an unsuited environment for calling a perfect game. All we can really do is take stock of what is working, evaluate why some predictions failed, make necessary adjustments to the strategy for 2019 and move forward. The most successful predictions of marketing in 2018 appeared to be offered by those who envisioned a broader and less specific set of outcomes.

“While some industries have embraced the paradigm shift in how they reach, engage, and mobilize new customers, I predict that we will see even more attention and focus being placed on getting the marketing mix correct,” predicted Julie Gareleck, CEO & Managing Partner, Junction Creative Solutions. The year’s performance appears to have been another example that absolutes and inevitabilities rarely pan out. So what appears likely to work best in 2019?

Video Marketing’s performance will continue to align with the previously predicted game plan. A Cisco forecast indicates that video will make up 85% of Internet traffic by 2020. While posts with digital images and content continue to capture a significant audience, video is generating 135% more organic reach for marketers. Once seen as an opportunity for only the most well-healed, larger players, video is becoming more economical for those smaller marketers who can benefit from projecting an emotional and appealing story. According to The Wall Street Journal, “the usage of online video has increased by 10 times between 2011 and 2016. Over the next two years, the trend has only intensified and is unlikely to slow down.”

Automating the marketing process to work more efficiently and smarter will continue to pay dividends of better understanding customers.  Scott Brinker, Founder of Chief MarTec, said, “As much amazing marketing software as there is today, there is still an opportunity for new ideas. Marketing should be — and can be — better.”  Automation will be seen as another set of marketing tools that enhances the acquisition of new customers.

Smart marketers will continue to develop an expanded inbound approach to connecting with their market segments. Content marketing, automation, social media and multichannel marketing can be coordinated to create a brand reputation that is authentic and valuable to customers. Consumers are more often placing trust in those they know. Quality, reputable content will prevail over stock ads in the coming year. If one were to bet on an absolute, a continuing utilization of inbound marketing tactics is a wise wager for 2019.

Once predicted to be rendered obsolete; direct mail, print advertising and brick and mortar sellers are showing some unexpected resilience in the digital age. Not unlike wax LP’s return to popularity among a niche market of music lovers in a world of digital recordings, old school marketing tactics are finding success with consumers who are tired of the incessant barrage of digital media noise and those who long to revisit a traditional physical shopping experience. Players on the field of brick and mortar will need to focus on creating entertaining events and an enticing experience for their target markets.

Who would have thought it: consumers like getting mail, even if it was once thought to be junk? Print advertising is not dead. While a small and much diminished portion of overall marketing spend, print is finding its rightful place in the digital world. In the field of marketing where a fast, bang, digital technology appears to arise every minute, the most surprising trend in marketing for 2019 may just be “what is old is new again.”

Prepare Your eCommerce Website for a Happy Holiday Selling Season

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Would a winning team come to the plate in the World Series expecting to win without their best equipment? The answer from most sports enthusiasts and players alike would be, “certainly not!” But retailers and sellers across the industry spectrum may be coming to the plate in the biggest game of the year woefully unprepared for a big win. The holiday season is marketers’ most important opportunity to win big or go home, yet many players are failing to adequately coordinate ecommerce outlets for victory.

This year, online sales have risen by 46% and with more than 60 percent of retailers showing inventory on their website, it is critical to be ready for all the increased holiday shopping ahead. For a website to be most effective it must be aesthetically relevant, be at the peak of its performance and timely in its content. The worst time to realize that your marketing hardware isn’t loaded properly is when you have competition within your sight. Now is the time to focus on improving the performance of your website’s existing functionality.

First and foremost, your website must be prepared to handle and respond to the increased amount of traffic that is experienced around the holiday season. With their busy schedules consumers are impatient with websites that are slow to function and deliver accurately on their commands. Studies have revealed that websites that fail to load in just three seconds produce increased bounce rates. It is time to test your server’s ability to respond to your customers’ expectations and take measures to improve the site’s performance.

Decorating brick and mortar stores for the busiest selling season is a holiday tradition. Retailers spend millions of dollars each year in an attempt to set a festive mood in hopes of encouraging shoppers to spend with them. A website should be no different. Decorating your site with the sounds and sights of the season will generate consumer interest and appeal. Offer something dynamic and unique with your content and modify it often to accommodate special events and promote shopping incentives. Utilize plug-ins that automate the processes of timely scheduling and initiating content modification. Focus on intently delivering on your promises. A gift received the day after Christmas is a memory rarely forgotten.

“In today’s world, if you’re not on mobile, you don’t exist.” More consumers look to mobile devices to research products and services before making a purchasing decision.  By 2021, it has been estimated that consumers will spend $152 billion directly on mobile phones, and over the next few years mobile phones will influence $1.4 trillion in offline sales. A strategy to align your online presence across all mobile devices is critical.

Secure your website! Loyal customers may forgive an occasional mistake or inconvenience caused by unforeseen and uncontrollable calamity, but mess up a financial transaction or mishandle consumer data and you may be forever unforgiven. The holiday selling season brings out the best in many people, but it also brings out bad actors in greater numbers who are willing to victimize your customers and your business to advance their personal gain. Ensure that all your software, plug-ins, connections and passwords are up to date, and invest in the latest versions of anti-malware as a first line of defense.

Prepare your eCommerce platform now for a happy holiday selling season!

Adaptive Risk Advisors Reveals New Online Presence

When Adaptive Risk Advisors (ARA) was formed earlier this year, co-founder Miles Parker’s goal was to create a full service company focused on providing customized insurance solutions for high net worth business owners and individuals. Specializing in Commercial Property and Casualty, Workers’ Compensation, Fleet Vehicle, Liquor Liability, Cyber, and Luxury Home and Auto insurance coverage, ARA is a full service, independent agency focused on serving clients who desire a value-added relationship, competitive insurance rates and the best policies for unsurpassed price, coverage, and service. Based in Raleigh, North Carolina, Adaptive Risk Advisors is strategically located to provide services to Wake, Durham, Chatham, and surrounding counties.

“We believe personal contact and service will become the cornerstone of our success,” says Parker. “Our focus is on establishing client relationships rather than on client transactions. ARA’s success will be measured by our clients choosing us because of their belief in our ability to meet or exceed their expectations of price, service, and expertise.”

Junction Creative Solutions (Junction), an award-winning hybrid agency, was selected to design and develop an online experience to support the growing business.

“At Junction we share the belief that forming mutually beneficial relationships with clients is essential to business success and that honesty and trust are foundational to a company’s continued growth,” says Julie Gareleck, Junction’s Founder and CEO. “We appreciate the opportunity to be selected to work with Adaptive Risk Advisors on the launch of their website. We look forward to following their success!”

Adaptive Risk Advisors is ready to provide customized and affordable insurance solutions. Their knowledgeable, friendly staff can empathize with clients and their needs and create policies that meet or exceed their expectations. Call 984-212-8000 or visit https://adaptiveriskadvisors.com/ to learn more about Adaptive Risk Advisors.

A Happy Holiday Sales Season to Come

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The season for gift giving is fast approaching, and retailers from hometown America to online retailers way out in cyber space are looking for the gift of increased sales and black ink bottom lines. The 2017 holiday selling season was the biggest and best since 2011. Sales in the U.S. grew 5.5% in brick and mortar sellers over previous years and eCommerce tallied a 17.8% increase in online sales. Last year’s record performance has prognosticators either cautiously optimistic or pie-in-the-sky giddy over the coming 2018 holiday season.

Due to very good economic news, record low unemployment and strong consumer confidence, retailers are in line to receive a favorable uptick in sales in 2018.   Deloitte Touche Tohmatsu Limited (Deloitte), a leading global consulting agency, says this year’s retail November to December sales could top $1.10 trillion, an increase over 2017’s $1.05 trillion performance. “We think most retailers will have a good holiday season if they have a distinctive value proposition,” says Rod Sides, vice chairman of Deloitte’s U.S. retail and distribution practice. “We think off-price will continue to do well, and there will be a rebound in luxury.” eCommerce sales are expected to rise as much as 22 percent through the holidays, according to Deloitte.

Global consulting firm AlixPartners is being a bit more measured in its sales predictions for this year, calling for retail sales growth of just 3.1 to 4.1 percent this holiday season. “The health of retail is still very strong, but 2017 will be a tough year to follow,” said Roshan Varma, a director in AlixPartner’s retail practice. “Last year was a bit of an anomaly, and we are expecting more of a typical holiday season this year.” Meanwhile, The National Retail Federation (NRF) is positioning its predictions more centered in the bell shaped statistical curve.

The NRF is forecasting an increase in retail sales of 4.3 to 4.8 percent over last year, resulting in as much as $720.89 billion dollars in holiday sales. “Our forecast reflects the overall strength of the industry,” NRF President and CEO Matthew Shay said. “Thanks to a healthy economy and strong consumer confidence, we believe that this holiday season will continue to reflect the growth we’ve seen over the past year. While there is concern about the impacts of an escalating trade war, we are optimistic that the pace of economic activity will continue to increase through the end of the year.” NRF Chief Economist Jack Kleinhenz said, “Last year’s strong results were thanks to growing wages, stronger employment and higher confidence, complemented by anticipation of tax cuts that led consumers to spend more than expected. With this year’s forecast, we continue to see strong momentum from consumers as they do the heavy lifting in supporting our economy. The combination of increased job creation, improved wages, tamed inflation and an increase in net worth all provide the capacity and the confidence to spend.”

Regardless of which numbers prevail, consumers are tiring of the shopping experience and will be looking for convenience when it comes to browsing. They will be rewarding retailers who provide improved checkout times when making their purchases; whether in store or online. Early shopping (Thanksgiving through Cyber Monday week) will garner 37 percent of total U.S. holiday retail sales. Consumer sales made through mobile devices will account for more than $35.9 billion in the United States, with voice command technology accounting for 3.3 percent of total gift-giving purchases.

Happy holiday sales to all!

How the GDPR Implementation is Impacting Marketers’ Relationship with Consumers

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Since its passage in May 2016, the European Union (EU) General Data Protection Regulation (GDPR) has resulted in many companies questioning the need to comply or what the far-reaching regulation would mean to their organizations. Initially many firms failed to understand the global reach of the regulation and that they would be required to respond to the demands of the rule. The GDPR creates strict requirements on how companies who collect, maintain and market consumers’ data must handle the use of that data. The regulation, which comes with severe financial penalties and liabilities when breached, went into effect in May of this year.

Under Article 4 of the GDPR, “any consent to the processing of data must be freely given, specific, informed and unambiguous.” Data subjects need to voluntarily submit data for processing. Consent should be guided by a clear, plain English explanation of what specific processing will be done, why its collection is necessary and who the data is shared with. If there will be multiple processes, consent is required for each. At the outset, many predicted that the sweeping regulations would be the end of marketing as it is generally practiced, particularly digital marketing, but many others believed that the new regulatory environment would simply rid the marketing landscape of poor marketing practices and less-than-honest practitioners.

While migration to the GDPR requirements have been a challenge, progress has been made for companies who recognized the importance of compliance. Now four months into the launch, major changes among marketing professionals have occurred. Previous conduct of buying email lists, pre-ticked consent boxes and convoluted terms and conditions are becoming activities of the past. So how do consumers, or subjects as they are known in the EU, feel about the new data handling regulations?

A survey commissioned by Marketing Week and performed by Toluna, indicates that 57% of people feel
that they better understand how companies are using their data, but merely 27% of respondents feel that the overall experience with brands is better. “Most people (65%) believe GDPR has made no difference at all, while 8% suggest things have actually got worse.” With more than half of the respondents indicating that the GDPR has had no impact on them it may be that many consumers do not even know about the GDPR standards and what benefits the new rules may play in their digital lives.

Perhaps it is too early to effectively measure the impact of GDPR on companies’ marketing tactics or how consumers perceive brands’ handling and use of personal data. With a proliferation of media accounts of how some major organizations have mishandled customer data and trust in the past, well entrenched attitudes prevail. The GDPR is capable of having a positive impact on the consumer/marketer relationship for those organizations that embrace the opportunity. Only time will reveal the effectiveness of the best of intentions to resolve the past bad acts of data management.

Moms in Aprons and Ties for Dad No Longer Representative of Parents’ Special Day

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What does something homemade, dinner, and a greeting card have in common? They’re the top three things Moms want for Mother’s Day. For those who agonize every spring over selecting the perfect gift for their perfect mom, the solution seems rather simple. All we have to do is cook mom her favorite meal and hand-make her a greeting card and we all will score a bullseye with the 85.4 million mothers in the United States. Either millions of us have been overcomplicating the gift giving process or we all need a remedial course in inferential statistics.

According to the National Retail Federation (NRF), spending in 2017 around Mother’s Day hit a record $23.6 billion, and this year the upward trend is likely to continue as an estimated 86 percent of Americans celebrate the Day. Add Father’s Day to the mix, with an estimated $15.5 billion dollar consumer spend, and the parental back-to-back holidays promise a profitable opportunity to marketers who get their advertising campaigns right.

Motherhood is no longer one single stereotypical lifestyle anymore, and successful advertising campaigns reflect the diverse varieties of what being a mom means in the 21st century. The most effective campaigns are those that are unique, personalized and portray real people in real life situations in 2018. Despite the changing Mom role model, emotion and nostalgia is still playing well to this audience. Marketing campaigns that develop creative messaging that depict these new realities are those most likely to succeed.

Father’s Day advertising is taking a heartwarming and humorous approach as consumers look for different gift ideas for Dad. Americans who celebrate Father’s Day this year are expected to focus more on “special outing gifts” than ever before with nearly $3.2 billion expected to be spent on concerts, sporting events, or dinner by 47 percent of consumers. “Consumers are looking into other types of non-traditional gifts to give dads, which includes personal care, gifts of experiences, and gift cards,” says Ana Serafin Smith, director of media relations at the NRF. “Therefore, brands and retailers are modifying their Father’s Day ads to be inclusive of some of these new gift options that Millennials are looking to give during this holiday.”

Authenticity is key to successful messaging for both Parents Day events as consumers are more likely to make a purchase decision based on recognized influencers rather than a single celebrity. Like motherhood, the role of being a father is evolving in 2018.  Gifts of sporting tickets, technology toys, backyard grills and tools will remain welcome gifts for dads across America, but surveys are indicating that the best choice for father may not be a thing at all.

Special day holidays provide on-going opportunities to marketers throughout the year. Developing campaign strategies and tactics that are honest, trustworthy and reflect the values of the brand and the consumer will be well rewarded.

Success Depends on How Well You Know the Competition

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It may be arguable but fair to say that most businesses are either intimidated by or carelessly underestimate the competition. In most cases, it would likely be advisable to be a little more of the one and a little less of the other. Taking on a well-established market leader is cause for serious evaluation, particularly one who is attentive to potential market entrants.  Even the best run businesses, while careful to not open a wide door of opportunity for new competitors, often leave the door cracked open to some or all parts of their market segments. While intimidating, opportunity rarely presents an easy target. Fear is often overcome by fully understanding the dynamics of the challenge or challenger. As Walt Disney said, “I have been up against tough competition all my life. I wouldn’t know how to get along without it.”

Studying successful competitors’ operations gives important insight as to what is working and what is not. For a market interloper, learning from your target’s successes and failures eases the up-hill, new entry path. Resolve to make your own mistakes and not repeat the ones the competition has already paid for. Analyze what makes them the leader and copy their actions. Cloning an already effective strategy is not only flattering to the originator but advantageous to the newcomer. Don’t be afraid to learn and earn from the heavy lifting already accomplished. As Tony Robbins said, “The surest way to achieve success is to model someone who is already successful.”

Evaluating a competitor requires attention to the strategies and tactics of operations over time. Fully understanding the path to success will enhance one’s perspective and avoid the cost of underestimating the scope of the challenges that lie ahead. Mark Chussil, an adjunct instructor at the University of Portland and the founder of consulting firm Advanced Competitive Strategies, says “It’s tempting to say, ‘Obviously, these people are doing a lousy job, or they wouldn’t be in trouble.’ It’s also a little dangerous. You can say, ‘I would never make those mistakes.’ But we should remember that a lot of companies have gone bankrupt — not just small ones, but big ones. They weren’t being run by idiots, and they weren’t being run by people who wanted to fail.”  Successful intervention requires comprehensive knowledge about the product, the competition and the respective markets. Success dictates attention to all or none.

“Don’t bite off more than you can chew” is a time-worn sage and good advice when taking on an established market player. Existing players have the advantage of history, capital and market position. Identify underserved niche markets and focus on excelling with those segments. Resolve to identify those aspects of serving customers that the competition is unable or unwilling to perform. Be willing to be underestimated and seen as a non-threatening nuisance. Nibble away at the vulnerable edges of the beast until they are weakened and injured. Focus on capturing market subcategories and expand inward to the market core.  However, a challenger should remember that while it’s easy to identify and move against competitors’ shortcomings, you risk becoming a target through the process. “A lot of companies think their objective is to kill the competition, that it’s the path to profitability,” Chussil says. “That is not the objective. Your objective is to succeed.”

Filling a need not filled is the goal. Providing a solution to consumers not satisfied by existing marketers provides opportunity to new market entrants. Even the most astute businesses leave a door cracked open to new competitors, either out of complacency or failure to identify lucrative, unfulfilled market segments. Learn as much as possible about these untapped opportunities and reap the rewards.

For more on how you can seize the benefits of untapped markets, contact the experienced strategists at Junction Creative Solutions.

New Data Handling Regulations from Across the Pond May Affect U.S. Businesses

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On May 25, 2018, a significant new set of regulations go into effect across Europe and around the world that will greatly impact virtually any business that has an internet presence. The time for compliance is approaching very quickly but 60 percent of all businesses affected are not ready to be in compliance.  This number is concerning given that violations of new regulations carry huge fines that could cripple businesses of all sizes.

The General Data Protection Regulation (GDPR) was initiated to give consumers in Europe greater control over their personal data. GDPR impacts any business that has customers located within Europe and affects all businesses regardless of physical location, company size, or scope of business. While the emphasis first appears to be on European organizations, the regulations apply to businesses anywhere in the world that process the personal data of European Union (EU) residents. In today’s vast global internet world without borders, those not affected make up a very short list.

Article 3 of the GDPR says that if your organization collects personal data or behavioral information from someone in an EU country, your company is subject to the requirements of the GDPR. Businesses will need to be much clearer about the information they hold on people and give them more control over how it disseminated and managed. Compliance is likely to be easier for heavily-regulated business-to-business sectors such as banking and insurance, but retailers and companies that deal directly with consumers need to be particularly aware of the new regulatory environment.

Many business entities outside Europe who failed to thoroughly understand the implications of the looming regulations are suddenly waking up to their new reality. Robert Bond, a partner at London law firm Bristows, says, “Already this morning, there have been three overnight calls from the U.S., saying we don’t have anything in place but we’ve realized this applies to us, do you have a quick fix solution?  I think there’s an awful lot of businesses out there, particularly outside the EU, that have suddenly realized the extra territorial nature (of GDPR) and that’s come as quite a shock. They are assuming it’s a tick the box exercise, which of course it isn’t.”

U.S. based hospitality, travel, software services and e-commerce companies will certainly have to consider their online marketing practices and determine the risk of non-compliance as well as any other U.S. companies that have identified a market in an EU country. GDPR requires organizations to identify a security strategy and adopt adequate administrative and technical measures to protect EU citizens’ personal data.

Given the existing costs associated with irresponsible handling of consumer’s personal data, few organizations can afford complacency about cybersecurity. While the heavy fines for non-compliance to GDPR compounds the penalties for cybersecurity ignorance, the new regulations offer an additional incentive and opportunity for companies to implement policies that may help them avoid a future data breach and the significant calamity to normal business operations that results.