With last year’s Black Friday sales drawing 122.7 million Americans to shop in person and 130.2 million to shop online, the personal-finance website WalletHub today released its report on 2023’s Best Places to Shop on Black Friday to help consumers maximize their savings.
| Best Black Friday Retailers (Avg. Discount) | |
| 1. JCPenney (59.12%) | 6. BJ's (30.11%) |
| 2. Macy's (58.19%) | 7. Best Buy (29.78%) |
| 3. Belk (54.76%) | 8. Amazon (28.48%) |
| 4. Kohl's (48.81%) | 9. Walmart (26.88%) |
| 5. Target (32.70%) | 10. Dell (25.79%) |
Key Stats
- JCPenney has the highest overall discount rate, at 59.12 percent, whereas Costco has the lowest at 17.07 percent.
- The overall average discount for Black Friday is 35 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, 15.72 percent off all offers, whereas the “Consumer Packaged Goods” category has the smallest at 4.16 percent.
To view the full report and each retailer’s rank in all product categories, please visit:
https://wallethub.com/edu/
“The best Black Friday deals can save you up to 85%, which could translate into hundreds or even thousands of dollars in savings, depending on the extent of your shopping spree. Knowing exactly where to find the best deals can also help you save a lot of time and avoid a lot of aggravation. You don't even need to leave your house and fight the mob in an actual store.”
- Cassandra Happe, WalletHub Analyst
Best Places to Shop on Black Friday in 2023
Black Friday, one of the year’s biggest shopping holidays, is almost here. Knowing the best places to shop can save consumers hundreds or even thousands of dollars this year on everything from jewelry and clothes to appliances, furniture and electronics.
JCPenney, Macy’s and Belk are the top three retailers for Black Friday shoppers, according to a new report by the personal-finance website WalletHub. The report surveyed over 3,500 deals from 13 of the biggest U.S. retailers’ 2023 Black Friday ads.
“JCPenney offers an average discount of 59.1%, and you’ll save the most money when shopping for jewelry, apparel, accessories, and appliances,” said Cassandra Happe, WalletHub analyst. “Macy’s is the second-best Black Friday retailer, offering an average discount of 58.2%, with especially good deals on jewelry, clothing and furniture. Belk takes third place, saving consumers an average of 54.8%, with great offers on appliances, apparel and consumer packaged goods like makeup and shampoo.”
While Belk has a lot fewer locations than JCPenney or Macy’s, consumers nationwide can take advantage of Black Friday deals at all three retailers by shopping online.
Top 10 Black Friday Retailers (Avg. % Discount)
| 1. JCPenney (59.12%) | 6. BJ's (30.11%) |
| 2. Macy's (58.19%) | 7. Best Buy (29.78%) |
| 3. Belk (54.76%) | 8. Amazon (28.48%) |
| 4. Kohl's (48.81%) | 9. Walmart (26.88%) |
| 5. Target (32.70%) | 10. Dell (25.79%) |
Some retailers are offering much smaller Black Friday deals this year. For example, Costco only gives an average of 17% off, and shoppers at The Home Depot will save an average of around 21%.
“The best Black Friday deals can save you up to 85%, which could translate into hundreds or even thousands of dollars in savings, depending on the extent of your shopping spree,” Happe stated. “Knowing exactly where to find the best deals can also help you save a lot of time and avoid a lot of aggravation. You don't even need to leave your house and fight the mob in an actual store.”
Tips for Black Friday Shopping
- Research the Stores With the Best Deals: Knowing ahead of time which stores provide the best savings will help you get the most bang for your buck. Checking out Black Friday ad scans is a good way to set your sights on the best deals in advance.
- Use a Rewards Credit Card: Putting your Black Friday purchases on a rewards credit card can save you an additional 1% to 5%, and even more if you use them to earn an initial bonus. Just make sure to stick to a budget and only charge what you can afford to pay in full by the due date.
- Start Shopping Early: Black Friday shopping isn’t just for Black Friday anymore. Some stores start their sales weeks in advance and keep the deals going all the way through Cyber Monday.
- Shop Online: The days of risking getting trampled just to find the best deals are over. Tons of retailers offer their Black Friday deals online, allowing you to save big from the comfort of your home.
https://wallethub.com/edu/
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