In light of the approaching Black Friday, the renowned shopping holiday, consumers across the United States are gearing up to seize the best deals of the year. A new report from WalletHub, a personal-finance website, highlights the top retailers for Black Friday shoppers, with JCPenney, Macy’s, and Belk leading the pack.
The report is based on an extensive survey of over 3,500 deals from 13 of the largest U.S. retailers’ Black Friday ads for 2023. WalletHub’s analysis reveals that JCPenney offers the highest average discount at 59.1%, making it an ideal destination for those looking to purchase jewelry, apparel, accessories, and appliances at reduced prices. Macy’s follows closely, offering an average discount of 58.2%, with particularly attractive deals on jewelry, clothing, and furniture. Belk ranks third, offering an average saving of 54.8%, and is a go-to for appliances, apparel, and consumer packaged goods like makeup and shampoo.
Despite having fewer physical locations than JCPenney or Macy’s, Belk’s online platform ensures that consumers nationwide can benefit from Black Friday deals. The top ten retailers for Black Friday, as per the average discount offered, include well-known names like BJ’s, Best Buy, Amazon, Kohl’s, Walmart, Target, and Dell, with discounts ranging from around 25% to 59%.
The report also notes that some retailers like Costco and The Home Depot are offering more modest Black Friday deals, with average discounts of 17% and 21%, respectively. Cassandra Happe, a WalletHub analyst, emphasizes that the best Black Friday deals could lead to savings up to 85%, which can amount to significant financial benefits for shoppers, especially for those indulging in extensive purchases.
Happe also spoke about the convenience of online shopping for Black Friday deals, eliminating the need to physically visit stores and contend with crowds. This shift to online platforms aligns with the evolving shopping trends, where convenience and accessibility are highly valued.
In preparation for Black Friday, consumers are advised to research the stores offering the best deals and consider using a rewards credit card to gain additional savings. The importance of starting shopping early is highlighted, as many retailers launch their sales weeks in advance and extend them through Cyber Monday.