GDPR is a major change for brands – globally, not just in Europe – which requires them to become accountable for data protection and prove compliance. They will have to improve the transparency of their communication regarding the use of consumer data and adhere to higher standards for gaining consumer consent. However, GDPR is not just about compliance but an opportunity to address some of the key issues with digital marketing and build consumer trust.
The General Data Protection Regulation (GDPR) is a new European law giving individuals more power over how their data is collected, shared, stored and used by companies. It applies to 'personal data' which includes any information relating to an individual which can identify them directly or indirectly. The law comes into force in May 2018 with large fines for non-compliance – up to 4% of global turnover. GDPR applies on an extra-territorial basis so applies to non-EU businesses targeting people in the EU.