Reports of supermarket giants Coles and Woolworths adding to their existing insurance products by offering credit cards and loans have raised questions about the duopoly’s potential to use customer data to their advantage.
According to the ABC’s 7.30 program last week, neither Coles or Woolworths has ruled out using the personal information collected through programs such as FlyBuys when assessing customers’ credit applications.
A market industry event covered in the report included a senior Woolworths executive revealing how the data might impact on customer eligibility – consumers who purchased a lot of red meat and milk might be considered a better risk than those who purchased pasta and rice, spirits or purchased their fuel at night.
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