Third of internet users too scared to use credit card to shop online
Almost a third of internet users are too frightened to hand over their credit details while shopping online, a report published by The Office of Fair Trading has found.What makes them feel safe when shopping at a store? Well the only difference is that they get to swipe their card into a point of sale device. So, using logic 101, if they had a point-of-sale device they could use in the safety of their own home, we could empower more than 62 out of every 100 people to feel more secure. Why is this important? Because Chief executive John Fingleton said: "Onlineretailing is the future for many businesses and increasingly importantto the economy.
Among the people who do shop online, 37.8 feel it's as safe as shopping in a store. That means that 62.2% don't feel secure when doing so.
"Ifconsumers are not confident online, demand will grow at a slower rate.So we must tackle these concerns right now if the online market is togrow at its full potential."
The OFT said 30 per cent of internet users do not shop online because of a lack of trust. It added that, although consumer confidence is gradually improving, online markets cannot reach their full potential because it is still too low.
Minister for Consumer Affairs Gareth Thomas said: "UK consumers buy almost twice as much over the internet compared to their European neighbors. "It's encouraging that the OFT's survey shows increasing consumer confidence when buying online - but people still have concerns. "That's why we will be setting out proposals in our forthcoming consumer White Paper to better protect people from fraudsters and increase their consumer knowledge when shopping online."
The Interactive Media In Retail Group estimates that £43.8 billion was spent on online retail in the UK in 2008. Consumer Direct released separate figures today which found that more people are seeking guidance about internet shopping transactions. Inquiries about online purchases now account for 10 per cent of calls to the consumer advice helpline compared with 6 per cent in 2006.
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