collect only the necessary information you need to get them the product and then delete it once you have no more use for it?

Like if you were to buy a random item from me, I would need a physical address to get it to you. I personally don't care if you gave me your neighbor's address, a PO box, Or an address in some adjacent neighborhood As long You didn't blame me for the package getting lost after it's been delivered.

Once the item has been marked as delivered, you just delete the information and that's the end of the transaction.