Maurice Riley, Publicis Groupe ANZ Chief Data Officer, reflects on the recent delay in the privacy reform legislation in The Australian's The Growth Agenda.
"Consumer concern around data privacy is undeniable. Nearly nine out of 10 Australians surveyed by Zenith Media’s Imagine Panel viewed data privacy as a concern for their families. Among them are two key groups who are very concerned: families with children and financially optimistic consumers. These aren’t just any segments — they’re economic powerhouses. Together, these cohorts account for over 50 per cent of planned consumer spending at retail stores in the next three months, making their trust essential to driving growth.
"It’s time for companies to remember that privacy policies are more than legal documents; they’re a conversation with customers. Let’s make it one worth having."
"The slow pace in privacy reform gives all of us in the business community a unique opportunity to lead. By investing in data protection, enhancing transparency, and educating consumers about how their data is used, companies can strengthen their market position and gain consumer trust.
"Privacy is a new engine of growth. As consumer demand for privacy intensifies, businesses aiming for sustainable growth cannot afford to ignore it. Even if legislative hurdles delay privacy reforms, companies that proactively embrace privacy today can gain a significant competitive edge — addressing an unmet consumer need while building trust, fostering loyalty, and driving business growth. It’s a win-win for everyone: government, businesses, and consumers all benefit."
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