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More Than Half of Consumers Concerned with Fraud This Holiday Season—A 17% Increase From Last Year

New TransUnion report finds more consumers want security measures and have higher overall expectations for online shopping experiences

Most consumers (54%) are concerned with being victimized by fraud this holiday season—a 17% increase from last year, according to TransUnion’s (NYSE: TRU) 2022 Consumer Holiday Shopping Report. In addition, consumer fears of fraud have intensified, with one-third saying they are more concerned than last year, compared to only one in four consumers who felt that way in 2021.

Cecilia Seiden, vice president of TransUnion’s retail business

The message from consumers to retailers is clear – ‘if you want my business then ensure my information is secure, give me your best deal and don’t make me wait too long.’

Cecilia Seiden, vice president of TransUnion’s retail business

With fraud concerns heightening, 60% of consumers said they have a positive view of additional identity verification measures at checkout with online retailers—a 20% increase since last year. Conversely, when consumers were asked for the top reasons they would abandon their online cart, compared to 2021, 72% more selected “fraud concerns” while 40% more selected “not enough security on the site.”

“Increases in consumer fears about fraud and desires for security were a recurring theme in this year’s holiday shopping report,” said Cecilia Seiden, vice president of TransUnion’s retail business. “We also found consumers increasingly expect online retailers to deliver safe and seamless shopping experiences as they have less patience for errors and inconvenience.”

What makes or breaks an online shopping experience

When asked to rate the importance of certain elements of shopping on a mobile device, the highest-rated feature was two-factor authentication (e.g. receiving a one-time security code via text), with 80% of consumers indicating it was moderately or very important.

This year’s report also found a 53% increase in the number of consumers who said having their personal information pre-filled at checkout is ‘’very important.” There was also an 18% decrease in the number who said this feature is “not important.”

Consumers also demonstrated less patience with negative shopping experiences, compared to last year. In every category of shopping experience, more consumers indicated they would abandon their cart if retailers did not meet expectations.

Percentage Increase of Consumers Who Would Abandon Cart, By Issue

Shipping Costs

Payment IssuesFraud ConcernsPoor Website ExperienceNot Enough Security On Site






This year the survey included questions to identify the “sweet spots” for enticing consumers with price discounts and shipping times. When asked for the minimum discount that makes something a great deal, the top answer was “30% off.” The consensus on what constitutes “quick delivery” was two days.

“The pandemic firmly established that online shopping is here to stay, but it also led to a more discriminate shopper wherein consumers are less patient with retailers. The message from consumers to retailers is clear – ‘if you want my business then ensure my information is secure, give me your best deal and don’t make me wait too long,’” added Seiden.

A connection between enthusiasm and spending

The consumer survey also assessed holiday shopping behaviors and found 26% plan to spend more this year. This represents a 44% increase from last year and a record high since TransUnion first launched its Consumer Holiday Shopping Report in 2018.

This trend was more pronounced among younger consumers, with nearly half (44%) of Millennials and Gen Z consumers planning to spend more this year. In addition to inflation, a possible explanation for this might be an increased feeling of enthusiasm for holiday shopping.

When asked how they feel about holiday shopping this year, 23% of all consumers said they feel more enthusiastic. Again, this trended higher with younger consumers, with 37% of Gen Z and 43% of Millennials indicating they feel more enthusiastic this year.

The top reason for consumers feeling more enthusiastic was being in a better financial position, while the top reason for feeling less enthusiastic was not having enough money to buy the gifts they want to give. The one exception to these findings was among Gen Z and Baby Boomer consumers, who said the reason they feel more enthusiastic for holiday shopping was from wanting to get back to normalcy.

Perhaps related, when asked how much of their holiday shopping would be online, 31% of Baby Boomers said they would do minimal or no online shopping this year. This is a more than double increase from last year and likely due to a desire for normalcy after the height of the COVID-19 pandemic forced consumers to adopt online shopping.

“Despite documented concerns over inflation and possible recession, consumers appear to be very excited for this year’s holiday shopping season,” said Mark Rose, senior director of TransUnion’s retail business. “While some consumers may end up spending more on their holiday shopping simply because of higher costs for many goods and services, there’s good evidence that consumer optimism is intact. This is a result of increased incomes and a continued strong employment picture.”

For more information about the survey findings and their implications for retailers, download the 2022 Consumer Holiday Shopping Report.


This online survey of 1,984 adults was conducted August 12-22, 2022 by TransUnion in partnership with third-party research provider, Dynata. Adults 18 years of age and older were surveyed using an online research panel method across a combination of desktop, mobile and tablet devices. Survey questions were administered in English. To ensure general population sample representativeness across United States resident demographics, the survey included quotas to balance responses to the census statistics on the dimensions of age, gender and household income. Generations are defined as follows: Gen Z, born 1995-2004; Millennials, born 1980-1994; Gen X, born 1965-1979; and Baby Boomers, born 1944-1964.

About TransUnion (NYSE:TRU)

TransUnion is a global information and insights company that makes trust possible in the modern economy. We do this by providing an actionable picture of each person so they can be reliably represented in the marketplace. As a result, businesses and consumers can transact with confidence and achieve great things. We call this Information for Good.® A leading presence in more than 30 countries across five continents, TransUnion provides solutions that help create economic opportunity, great experiences and personal empowerment for hundreds of millions of people.