CREDIT CARDS
Online shopping increases in the UK
Britain has become nation of online shoppers, with more of us going on the internet to do our shopping than any other European country.
A report from communications regulator Ofcom has found that the boom in online shopping has been driven by the growing popularity of smartphones.
Figures released by Ofcom show that ownership of smartphones almost doubled between February 2010 and August 2011. Of all mobile phone users in the UK, 46% now own a smartphone.
This helped push up online sales. Eight out of ten internet users said they had ordered goods or services online during 2010.
As well as this, nine out of ten internet users said they had visited a retail site this year – more than any other European country. Internet users in the UK are also spending more time on retail websites, with an average of 84 minutes in January 2011.
“Our research shows that the UK communications market is performing well with prices, the range of services and innovation standing up well against international benchmarks,” said Ofcom Chief Executive Ed Richards.
With this increase in online shopping, consumers are being warned of the dangers of online fraud, especially when it comes to credit cards.
Figures compiled by the National Fraud Authority show that since the start of 2011, 37% of adult consumers had been the victim of online fraud.
"It's not surprising to see that UK consumers are leading the way with internet shopping as Brits are also far more likely to be engaging in online activities generally such as online TV streaming and gaming,” said Michael Phillips, product director at Broadbandchoices.co.uk.
“Savvy shoppers know that the best bargains are to be found online but what is often overlooked is the potential risk attached to online buying. The Christmas spend is well underway and with web shopping hitting a peak this month, fraudsters are all too ready to part unsuspecting consumers from their cash.”
Tags: Christmas spend, CREDIT CARDS, online banking, online fraud, online shopping