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UK government looks at Internet shopping

Financial In Market A new fact-finding study into online shopping has been launched by the UK Office of Fair Trading.

Oriental Trading Around 130,000 UK businesses now sell online, in a market representing about 2.5 percent of all household spending (over 18 billion a year in total).

Government should look to reform the UK electricity and gas markets, and reform billing practices, according to Allan Asher, chief executive of energywatch.

Financial Forex Forex Software In the last five years, internet retail sales in the UK rose by over 350 percent, compared with growth of only 20 percent for all retail sales. In 2005, the typical online shopper spent 560 online, and forecasts suggest that this could grow to over 860 per year by 2010 (see note 5). Other research has, however, also identified consumer concerns when shopping online about security of payment, or potential problems with delivery.

Trading The study will explore consumer confidence in this area and, in particular, whether the current consumer protection regime meets any new challenges raised by this mode of selling. It will examine whether:

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Trading Financial System - consumers are confident when shopping on the Internet

These trade agreements threaten to force the USA into a hemispheric equivalent to the European Union. In the UK, despite over a million signatures on petitions gathered in British health food stores opposing harmonization of UK vitamin law to a mindlessly restrictive EU Food Supplement Directive, the UK government told consumers "we don't care HOW MANY signatures you get on your petition, the UK is a member of the EU, and we're harmonizing to EU law, whether you like it or not!!!"

Day Trading - consumers receive the right level of regulatory protection

Forex Financial Trading The - consumers are aware of their rights when shopping online; and - businesses understand and comply with the regulations for online shopping.

Fortune Make Option Trading The study will concentrate on four representative "case study" sectors: domestic electrical goods, music sales (including downloads), airline ticket sales (including accommodation bought at the same time), and online auctions.

Science Of Financial Market These sectors have been chosen because they represent at least a third of all online spending (see note 6) and are good examples of the internet as a growing and developing marketplace.

Future Trading It is also anticipated that these sectors will provide useful lessons to apply to other areas of internet shopping.

Financial Sales Services Throughout the course of the study the OFT will consult widely with businesses, trade bodies, consumer groups and public sector organisations.

Commodity Trading It will also research consumer and business perceptions and needs, enforcement practice, and consider international experience in this area.

Financial Services Trading John Fingleton, Chief Executive of the OFT, said: 'The Internet is fast becoming a hugely important channel for consumers and businesses. Its rapid evolution means that we need to ensure that the consumer protection regime gives current and future users the confidence to realise the internet's potential for shopping. This study is core to the OFT's mission to make markets work well for consumers. The OFT is committed to looking proactively at identifying and addressing new and future challenges, so as to ensure that consumers and the economy benefit from the innovation and choice that the internet can offer.'

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