The Competition and Consumer Protection Commission (CCPC) commissioned Ipsos B&A to conduct research into consumer behaviours and attitudes towards Black Friday and Cyber Monday sales. This research is conducted as part of a long-running trend series over previous sales periods.
Newly gathered insights in this wave reveal the growing influence of social media influencers on consumer behaviour during sales events, as well as looking at buyer’s remorse following impulse purchases during the sales.
Influence of Social Media on Shopping Behaviour
For those planning on making a purchase during the upcoming Black Friday or Cyber Monday sales, 28% said it’s likely that a recommendation from a social media influencer would influence their decision to buy something. This climbed to 40% among 15-24-year-olds.
Mistrust in Sale Pricing
The research underscores a persistent mistrust among consumers regarding the validity of sale prices. Two-thirds (63%) of those surveyed expressed scepticism about the accuracy of pre-sale prices and the advertised discounts. Notably, younger consumers (15-24 years) exhibit higher trust levels, with 52% trusting the sales prices they encounter.
This element of distrust influences consumer behaviour, with 21% of the 59% of respondents not planning on making a purchase in these sales, citing scepticism over deal authenticity as a primary reason.
Awareness and Buyer Remorse
The survey showcases a growing awareness among consumers, with 70% acknowledging that businesses must comply with specific sale pricing regulations—up from 65% in 2024.
Furthermore, the research highlights the issue of unplanned purchases and subsequent buyer remorse – a common experience for consumers during sales events. About 72% of surveyed consumers admitted to making impulse purchases, with nearly 60% later regretting these decisions. Despite this remorse, the allure of discounted pricing during sales remains strong, driven primarily by the item’s price and the urgency created by limited-time offers.
For more information, please contact Kieran O’Leary (Director): kieran.oleary@ipsos.com
