A new data privacy study from Australian-owned research agency, Honeycomb Strategy, has revealed a growing distrust among consumers towards companies handling personal data across all industries.

Titled 'Brands Before Breaches 2024 – A Brand Playbook For Privacy Protection', the study was conducted online between 12th to 16th of February 2024 with a nationally representative sample of 1,018 respondents across Australia. The research comes as the Federal Government indicates its plans to accelerate privacy reform to August of this year.

According to the findings, two in five Australians claim their data has been compromised, with half unsure of how to secure their data, heavily relying on organisations for guidance. The study also delves into two of Australia's largest data breaches from Optus and Medibank, exploring the implications for the brands involved.

The research found that millions of Australians claim they will never trust these brands again and are switching brands as a result. The study also discovered that Australians value their data privacy over a personalised experience, do not see a positive value exchange with companies, and are more critical of how their data should be used.

Managing Director of Honeycomb Strategy, John Bevitt, said: "Today’s digital-first environment demands more than passive engagement from brands. Customers, now more than ever, seek assurance that their data doesn't just fuel profits but is respected and protected with the utmost integrity - and with a constant stream of data breaches being announced, it’s no surprise that distrust continues to grow. Our insights reveal that while brands are built over decades, a mere moment of vulnerability can lead to irreparable damage. This report is an invitation to turn potential pitfalls into platforms for trust-building and help brands proactively set new standards in customer comms and data stewardship."

Honeycomb Strategy is a go-to-market specialist research agency that supports brands to grow and transform using behavioural science, qualitative and quantitative research to shortcut the journey to product-market fit.