Internet users wary about shopping online.
Almost a third of internet users are too frightened to shop online, according to a report by the Office of Fair Trading.The report reveals that 30 per cent of users are too frightened tohand over their credit card details and do not shop online because of alack of trust.
Online sales
The OFT said that one in five internet users who chose not to shoponline failed to do so because they were worried about personalsecurity.
 Savers need to be aware that just because an account is internet only does not automatically mean that it is a good deal  David Black, Defaqto  |
Some 15% of those who turned down the chance of internet shopping said they did not trust the retailers.
"Online retailing is the future for many businesses and increasinglyimportant to the economy," said OFT chief executive John Fingleton. "If consumers are not confident online, demand will grow at a slowerrate. So we must tackle these concerns right now if the online marketis to grow at its full potential."
"UK consumers buy almost twice as much over the internet compared totheir European neighbours," said Consumer Minister Gareth Thomas. "It is encouraging that the OFT's survey shows increasing consumerconfidence when buying online - but people still have concerns."
Banking changes
Mr Black, principal consultant for banking at Defaqto, said thatsimilar fears over security - as well as a lack of internet access -meant people were missing out on better returns.
Returns on savings have been cut dramatically as account providers have mirrored falls in the Bank rate.
Mr Black said that introductory offers being offered on accounts meant savers could get a better deal by switching accounts. "However savers need to be aware that just because an account isinternet only does not automatically mean that it is a good deal. Thereare examples of internet only accounts that are paying as little as0.10%," he said.
However, the report reveals that confidence in e-commerce isincreasing among consumers who do shop on line. Over half, 54%, ofonline shoppers feel it is as safe as shopping in store compared with26% three years ago.
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