Over Half of Consumers Don’t Believe The Holiday Deal Hype

Trustpilot survey results spotlight consumer holiday shopping habits ahead of Black Friday

NEW YORK – November 19, 2024 –  Trustpilot, the global independent review platform, today released its ‘Holiday Shopping Trends’ survey, shedding light on how consumers are navigating the holiday season with a sharper focus on value and budgeting. The findings highlight a growing skepticism around traditional holiday sales, with 51% of shoppers believing the best discounts are found outside of Black Friday and Cyber Monday.

"Shoppers are increasingly savvy, with many starting their holiday shopping well before Black Friday to find the best deals," said Dana Bodine, U.S. Vice President of Marketing at Trustpilot. "Trusting consumer reviews is a key part of almost every shopper’s strategy, helping them assess whether a deal is worth pursuing. Shoppers know that impulsive purchases often lead to regret and returns, but reviews provide valuable insights that enable smarter decisions. For retailers, this emphasizes the critical role reviews play in shaping shopper behavior, influencing decisions not just on individual products but across the entire brand experience.”

Shoppers are taking a strategic approach to holiday shopping, focusing on budgeting, starting their research earlier, and placing greater trust in reviews to guide their choices. While many are cautious about overspending or being lured by holiday promotions, they still view Black Friday and Cyber Monday as opportunities to find deals—albeit with a more discerning eye. These insights underscore the critical role of trust and transparency in influencing holiday shopping decisions and shaping consumer-retailer relationships.

Budgeting Over Splurging

Stretching budgets and mindful purchases are top holiday shopper priorities. While 43% of consumers plan to spend the same amount on gifts as last year, only 10% intend to increase their spending by $200 or more, and 18% are scaling back by $200.

Deal Doubts Push Savvy Shoppers To Start Early

The survey revealed that consumers are starting their holiday shopping research early, with 57% beginning at least two weeks before Black Friday and 29% starting over a month in advance. Reviews play a significant role in their decision-making process, with shoppers focusing on star ratings (44%), the recency of reviews (24%), and the number of reviews (20%). 

This emphasis on reviews influences where consumers choose to spend their money this holiday season. A striking 89% of shoppers consider reviews important to their gift-buying process, and 62% rate them as moderately to extremely important.

No Regrets or Buyer’s Remorse?

While many shoppers snag great deals, most admit to making impulsive decisions and overspending during the holiday season. In fact, 61% confess to making hasty purchases at least once while shopping Black Friday deals, and 63% acknowledge overspending on gifts in November and December compared to other times of the year.

However, this hasn’t dampened their overall sentiment toward Black Friday or Cyber Monday. Nearly half (46%) say they’ve never regretted their purchases, and 39% have never returned an item bought during these sales. Of those who have made returns, only 15% blamed impulse-buy regret, while 26% said the purchase simply wasn’t worth the cost.

To add further insight, Trustpilot analyzed 850,000 reviews left on its platform during the 10 days before and after Black Friday and found:

• More negative reviews were left around Black Friday than any other time of the year. 

• Jewelry & watches, computers & phones, and gaming saw the biggest increase in negative reviews after Black Friday. 

• Clothing, shoes, phones, and furniture companies were the most viewed categories on Black Friday.  

In collaboration with the market research company Qualtrics, the review platform Trustpilot conducted an online survey of 1,000 people aged 18 to 60 in the United States about their shopping behavior around Black Friday and Cyber Monday, and the importance of customer reviews. The survey ran from November 1-5, 2024

Trustpilot began in 2007 with a simple yet powerful idea that is more relevant today than ever - to be the universal symbol of trust, bringing consumers and businesses together through reviews. Trustpilot is open, independent, and impartial - we help consumers make the right choices and businesses to build trust, grow and improve.

Today, we have more than 300 million reviews on the platform and 67 million monthly active users across the globe, with 127 billion annual Trustpilot brand impressions, and the numbers keep growing. We have more than 900 employees and we’re headquartered in Copenhagen, with operations in Amsterdam, Denver, Edinburgh, Hamburg, London, Melbourne, Milan and New York.