Australian consumers are getting exposed to data and privacy breaches more often, and they’re exhibiting more distrust in every company’s ability to protect their privacy as a consequence. Paradoxically, they’re the first to admit their behaviours online may not be the best, even as they level accountability – albeit in an imbalanced, bias way – firmly on the shoulders of organisations, says Honeycomb Strategy’s MD, John Bevitt. They’re also remain mostly unconvinced of the value they’re getting from exchanging their information for personalisation.
Through a new survey of more than 1000 individuals, the agency has gauged current consumer sentiment around privacy and data off the back of the whopper breaches to occur at Optus and Medibank. It shows consumers are not just speaking their disdain but taking action too, switching brands and irrevocably taking their trust away from those that misuse or inadvertently share their personal data and put their privacy at risk.
Honeycomb’s is a timely and worrying report given the targeting and personal data crackdown looming over marketers, advertisers, media and tech players through the Federal Government’s fast-tracked Privacy Act review, as well as the ACCC’s concerns around cross-company data sharing in its latest Digital Platforms Inquiry report. It’s a looming era of data scarcity, says Bevitt – and brands need to get creative to cope.