Score the Best Black Friday Deals with These Top 5 Retailers
The holiday season is fast approaching, and that means Black Friday is right around the corner. With the chaos of the shopping day looming, it’s essential to have a plan in place to score the best deals. WalletHub has surveyed thousands of deals from the biggest retailers in the United States to uncover where shoppers can find the biggest discounts and make the most of this frenzied day.
Top 5 Retailers with the Biggest Discounts
- JCPenney: Offering an average discount of 59%, JCPenney has consistently earned the top spot on WalletHub’s report since 2014. The retailer’s biggest markdowns are on apparel and accessories, appliances, jewelry, toys, and more.
- Macy’s: With an average discount of 58.2%, Macy’s is a top destination for deals on jewelry, furniture, and clothing.
- Belk: Despite having few locations near Nashville, Belk offers an average discount of 54.8% and is the go-to for markdowns on appliances and consumer packaged goods.
- Kohls: Offering an average discount of 48.8%, Kohls is the retailer with the biggest savings on jewelry, computers, phones, and consumer electronics.
- Target: With an average discount of 32.7%, Target’s biggest markdowns include furniture, computers, phones, and toys.
How to Get the Best Deals on Black Friday
According to Jane Boyd Thomas, a professor of marketing at Winthrop University, having a shopping plan in place is crucial to maximizing bargains on Black Friday. Lalatendu Acharya, an assistant professor of health sciences at Indiana University Kokomo, recommends preparing shopping lists in advance, being clear on product specifications, and comparing prices on various deal websites. Additionally, experts recommend doing online shopping earlier in the day to snag the best deals.
It’s important to consider the cost of shipping, returns, and the retailer’s return policy when making purchases. With these tips in mind, shoppers can make the most of Black Friday and score the best deals on their holiday shopping.
WalletHub surveyed more than 3,500 deals from 13 of the biggest United States retailers’ 2023 Black Friday ad scans and calculated the average discount that each retailer plans to offer. The average discount was weighted based on the pre-discounted price of the item to give more credit to the retailers discounting higher-ticket items. WalletHub then organized the deals into categories such as “apparel and accessories,” “consumer electronics,” and “appliances.”