What: A BCG survey of about 10,200 consumers in ten markets across Europe, North America and Australia finds that 54% trust advertised prices at year-end sales events at least somewhat, while 20% actively distrust them.

Why it is important: Shoppers now check whether a discount is real, and department stores with established names hold an advantage over rivals competing on the size of the markdown.

Black Friday awareness stands at 95%, and intent among those aware rose two points to 81%, half of last year’s rise. Search starts earlier: 62% begin looking for deals in October or early November, and 76% of those planning to shop hold back purchases at least sometimes to wait for the events.

Trust in advertised prices varies by market: about two-thirds of US consumers trust them, against about a third in Denmark, the Czech Republic and Germany. Among shoppers planning to spend less or skip the events, 22% believe deals are available all the time. Retailer reputation and a money-back or free-returns policy earn 65% net trust each, and verified purchase reviews 59%. Real-time scarcity messages score 8%, AI-generated review summaries 4% and influencer recommendations 3%.

Among those planning to shop, 56% have used GenAI for shopping or plan to, led by Gen Z at 66%. They trust it most for comparing prices across retailers (39%) and product features (37%), and only 7% for buying. Social media as a source of shopping inspiration fell nine points to 46%.

IADS Notes: In beauty, overlapping promotions across Amazon, Sephora, Ulta, TikTok Shop and brand websites risk training shoppers to wait for deals, which is pushing brands toward selective, loyalty-led offers (BoF, July 2026). In Ireland, Brown Thomas Arnotts avoided a conviction after advertised Black Friday discounts on electronics and accessories did not reflect the lowest price of the previous 30 days, as the law requires (Breaking News IE, March 2026). Consumers use AI to research but not to buy: 81% of US and 53% of European consumers expect to use AI agents when shopping, yet only 4% would let an agent complete a purchase (BCG, October 2026), and 42% of US consumers would not trust AI to buy at all (a16z, October 2026).

For year-end sales events, trust is the new currency

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