In this policy you will declare things all depending on how your business works: from what type of information you gather from the customers, to what you will do with the information you have gathered, to the methods you use to gather that information and finally, to how you store all those information. You should also make sure that you clarify whether there will be a third-party distribution of the information or not. It is essential that you clearly understand your privacy practices so that you can intelligibly communicate it to your customers.
More importantly, through this legal document you let your customers and clients know that online privacy is as important to you as it is to them. You also create a transparent and conducive internet environment where users visiting your website are more comfortable because they are stress and worry free about abuse of their private info. With that kind of trust, which is a very vital part of the success of an online business, they will keep doing transactions with you and they are more likely to recommend you to their friends.