Britons who refuse to shop online due to security fears could be missing out on annual savings of £175m to £375m, according to a government study.
The Office of Fair Trading‘s Internet Shopping study (pdf) found a high level of worry among consumers about risks involved in using credit cards to make web payments – but it’s worry that is often unnecessary.
Meanwhile, the OFT said shoppers who do buy online could make savings of £150m to £240m just by searching more extensively, while consumers incur around £60m to £100m annually in unexpected charges, often added to a purchase at the end of a transaction.
The report also found awareness of shoppers’ rights is low amongst online traders, with many breaking laws designed to protect consumers. It said the lack of a single agency to provide retailers with such advice was a contributory factor.
The OFT will now consult other bodies to draw up a strategy including an awareness campaign, with a timetable running to the end of the year.