While Black Friday used to be an event in which holiday shoppers got up early to score the best deals, now most shoppers are finding deals from home as they shop online. Often sales are not only held for one day but for weeks leading up to the holiday.
Wallet Hub released its findings on the Best Stores for Black Friday shopping.
|Best Black Friday Retailers (Avg. % Discount)|
|1. JCPenney (64.71%)||6. Lenovo (40.67%)|
|2. Belk (64.23%)||7. Target (32.87%)|
|3. Macy’s (53.05%)||8. Big Lots (32.86%)|
|4. Office Depot and OfficeMax (49.93%)||9. Academy Sports + Outdoors (31.10%)|
|5. Kohl’s (44.23%)||10. The Home Depot (30.90%)|
Here are some key findings from the study.
- JCPenney has the highest overall discount rate at 64.71 percent, whereas Costco has the lowest at 16.80 percent.
- The overall average discount for Black Friday is 37 percent. Consumers should aim for this discount amount or higher to avoid Black Friday traps.
- The “Apparel & Accessories” category has one of the biggest shares of discounted items, 21.09 percent of all offers, whereas the “Furniture” category has the smallest at 3.73 percent.
In looking at the top categories of apparel, computers, and electronics, Belk offers the largest discounts on apparel and electronics but JcPenney offers the largest discounts on computers. The lowest discount offered is by Kohl’s for apparel and computers while Amazon gives the lowest on consumer electronics.