For many consumers, Black Friday has become less about savings and more about smoke and mirrors. New research from Lightspeed Commerce Inc., the unified omnichannel platform powering ambitious retail and hospitality businesses in over 100 countries, reveals that 84% of shoppers believe retailers inflate prices ahead of the sales to exaggerate discounts. Skepticism spans generations, from 87% of 18–24-year-olds to 78% of those 65+. Views are consistent by gender, with 83% of men and 84% of women saying deals are exaggerated.
Despite doubts, shoppers still plan to show up. Nearly half (48%) expect to shop on Black Friday or Cyber Monday this year, rising to 68% among 18–24-year-olds. Of those shoppers, 49% expect to spend up to $250, while 36% said at least $250 or more. The pull of a bargain remains strong, even when trust is strained.
That confidence gap shows up after checkout. One in three shoppers (32%) say they have regretted a purchase within a day. Regret is higher among younger buyers, at 41% for Gen Z and 36% for millennials. And returns are being planned in advance: 23% already expect to send at least some items back, climbing to 34% among Gen Z. For retailers, that means avoidable costs in restocking and resale, and avoidable hits to customer satisfaction.
“Black Friday is still a make-or-break moment for retailers, but shopper behavior is shifting,” said Dax Dasilva, Founder and CEO of Lightspeed Commerce. “Consumers are buying fast and deciding later, so it’s up to retailers to guide that journey. The best way to do that is with clarity—showing what discounts really mean, being upfront about fit and product details, and keeping customers informed on delivery and stock. When shoppers feel confident, they buy smarter and return less. In a tight economy, transparency is the strongest sales strategy retailers have.”
Spending priorities are also shifting. One in four (23%) say they will use Black Friday only for everyday essentials such as groceries, toiletries, and household basics. Almost half (47%) plan to split spending between essentials and premium items. Value and practicality now sit alongside excitement, which further rewards retailers that help customers feel sure they’re getting the right product at a fair price.
“Retailers that put customers first will be the ones who win this season,” added Dasilva. “Shoppers are still under the pressure of a higher cost of living, so fairness, transparency, and empathy matter more than ever. It’s not just about discounts—it’s about building trust and confidence that bring customers back long after the holidays.”
