A recent survey by OFCOM has revealed that the UK is a nation of internet traders and shoppers more so than any other country.  We love to shop!

Mobile devices particularly drive on-line shopping with consumers in the UK with an average spending of £1,083 a year with Australia following in 2nd place spending on an average of £842 a year. UK consumers are downloading more data from their mobiles than any other nation, according to the survey too.

The survey showed that

  • In December 2011 the average UK mobile connection used 424MB (megabytes) of data, higher than Japanese users who averaged 392MBs
  • 16% of all web traffic in the UK was from mobiles, tablets or other connected devices – more than any other European country
  • 4 in 10 UK adults now access Facebook, Twitter, Linkedin and others social networks via their mobiles.

The survey is OFCOMS 7th International communications Market Report that is analyses the take-up, availability, price and use of broadband, landlines, mobiles TV and Radio across 17 countries.

The new generation of internet TV’s it is reported that 15% of households within the UK now own one of these TV’s.

Our TV screens are getting bigger too with almost a third of TV’s that were sold in the first quarter of 2012 were between a screen size of 84cm (33 inches) and 112cm (44 inches) wide.

The UK remains one of the cheapest countries to buy communication services although the gap is beginning to narrow.

OFCOM compared a basket of communication services including fixed line telephone, mobile calls and texts and fixed and mobile broadband and TV – giving an average cost of £146 in the UK currently.  This was cheaper by £32 than in France, £101 cheaper than Italy and £168 cheaper than the USA.

Do you have experiences of internet shopping as a customer or are you an internet trading business and have had some good and bad experiences?

If you are an Internet Trader, your online trading insurance will need to be up to date to cover all eventualities.  With The Insurance Octopus, our trader’s insurance protection includes the following options:

  • Public and product liability for internet traders as a core element
  • A range of optional extras including stock, business contents and full Legal Expenses
  • Goods in transit cover – from postage through to carrier
  • Additional policy extensions to include business money, packing materials and stamps
  • Selectable levels of insurance excess
  • Accidental damage
  • Employers Liability for internet traders (up to 5 employees) optional

As a business owner you cannot assume that home insurance will provide the right insurance cover for your online business, however it may be unlikely and you would need to check with your insurance provider.

If you have stock and additional liabilities, it would be unlikely you would be covered, leaving you exposed should the worst happen and in some cases, running a business from home could affect your existing home insurance.

Check your policy and if you need a quote today contact The Insurance Octopus team for a competitive and tailored quote for your online trading business.

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