Credit card spending pushes Internet sales up
Brits are increasingly using their cards for shopping as recent reports have revealed a rise in Internet shopping sales.
Internet shopping is only possible via card transactions and with recent figures showing
Internet sales make up 8.8% of all shopping expenditure; it seems Brits are turning to their card more frequently when shopping.
internet-shoppingAccording to figures released from the Office for National Statistics (ONS), Brits spent £6.6 billion shopping online and in retail outlets for every week in May.
The figures also showed that each week the average value for Internet sales was £510.9 million.
Non-food shopping experienced the biggest increase in sales online as volumes rose by 3.3%, of which 7.4% were non-food sales purchased over the Internet.
Shoes and clothing purchases accounted for £800 million each week, with 8.9% being made online.
It seems the everyday lives of Brits is fast transforming as these figures show how consumers are turning to the Internet more often for purchasing items.
Brits may be more inclined to shop online with credit cards as the Consumer Credit Act entitles consumers to a full refund should goods costing £100 or more be unsatisfactory or not arrive. Consumers are not offered this protection with debit cards.
Experts are encouraging Brits who shop online with their cards to take sufficient care when making a transaction.
Standard and authorised sites will have a padlock symbol located on the page, and experts are also asking online spenders to look for a postal address and landline contact number to prevent fraud.
While consumers are entitled to make purchases with their credit cards online, it is important that Brits looking to use their credit card on a regular basis are receiving the most rewarding rates from their bank.
Researching the different credit cards on the market will allow consumers to see whether or not they are benefitting from low rates.