Laszlo Sajtos

So knowing about that, it's very important.

And it's basically, you know, all the data that loyalty programs capture make companies decisions on targeting loyalty type of issues like retentions or churn, cross-selling, up-selling.

So all this information is very, very useful to personalize the offers and see how those offers are treated or received by these customers.

As a side note, I guess there are many loyalty programs that are sort of location-based.

So if they know that you are in the mall, then you just happen to have a notification of upcoming offer or their current offer.

So this is just on the side that there's a lot of things that I guess more recent versions of loyalty programs are capable of doing.

And I guess that really helps companies with targeting more effectively.

You know, this is like, I don't know, maybe a 100-year-old debate.

So, you know, this is a very long debate.

It's usually called a privacy personalization paradox, right?

So this paradox is really about, like, would you be willing to give up your privacy?

And, you know, we tend to say no at the attitudinal level, right?

So we say, well, privacy is important.

But when it comes to, you know, thinking about how the companies can make us sort of more comfy and customize their offers, because that's what we are interested in, the offers that actually suits us, our needs, then we tend to sort of trade this off.

So we're not so privacy oriented anymore.

You know, in most of the cases, if you want to use certain platforms, certain programs, you just have to sign up, which means basically giving data away.

There's no other way around it.

So whether we actually read the terms and conditions, I guess that's a different question.

But bottom line is that I guess everybody understands that their personalization comes at a cost and that cost is basically your data.

You know, most of it probably ends up within the company.