As Chanel and Pandora become the latest brands to be hit in a string of recent cyber attacks, new research from GlobalData suggests that high-profile hacks on major retailers is undermining consumer confidence when shopping online.

Original research of over 2,000 UK shoppers by GlobalData revealed that a fifth plan to reduce or stop shopping online due to cyber attack concerns. Younger shoppers aged between 16-34 were more likely to cut their online spend due to fears about cyber security, rising to a third. Seven in ten (69%) said they were worried about their personal security because of recent cyber incidents, increasing to 79% of 25-34-year olds.

“Younger consumers are more concerned about retailers storing their payment details, and think that [brands] are not doing enough to protect their private information when shopping online,” said Emily Salter, Lead  Retail Analyst at GlobalData.

This follows separate research from Checkout.com, which also showed recent cyber incidents were making consumers wary about digital payments. Almost three quarters (73%) of the UK shoppers it polled said that cyber attacks on UK brands had eroded their trust in making online payments.

Checkout.com’s COO Jenny Hadlow said that recent cyber crimes had “shaken” consumer confidence, adding that “without trust, the digital economy cannot thrive.” She called on retailers, policymakers and technology providers to “come together to prioritise public confidence and safeguard economic growth.” 

Following hacks at M&S, Co-op and Harrods, Chanel and Pandora have become the latest retailers to be hit by cyber attacks.

Chanel confirmed earlier this week that a hack had resulted in some of its U.S. customer data being stolen. Meanwhile Pandora also contacted customers confirming it had experienced a cyber attack, resulting in a data breach, although no passwords or financial information had been lost.