A new analysis conducted by WalletHub shows which retailers are offering the best discounts for this year’s Black Friday.
Overall, JCPenney tops the list in regards to offering the largest discounts for this year’s shopping holiday as the retailer is averaging a 59.1 percent discount on products.
Macy’s and Belk rank second and third in WalletHub’s analysis, as the retailers are averaging a 58.2 percent and 54.8 percent discount on products, respectively.
Kohl’s is averaging a 48.8 percent discount while Target is averaging a 32.7 percent discount on products.
The rest of the retailers – BJ’s, Best Buy, Walmart, Amazon, Dell, Newegg, The Home Depot, and Costco – are all averaging discounts at or below 30 percent.
The average discount among all 13 retailers analyzed by Wallethub is 35 percent.
Wallethub also analyzed retailers’ discounts based on specific categories, including apparel and accessories, computers and phones, consumer electronics, consumer packaged goods, toys, appliances, furniture, jewelry, and all other product categories.
According to Wallethub, Macy’s has the best discounts for those in the market this Black Friday for consumer packaged goods, toys, and furniture.
Kohl’s is the best place for consumers to buy computers, phones, and jewelry while Belk is the best place for consumers to buy appliances and miscellaneous products outside of the mentioned categories, WalletHub’s analysis shows.
JCPenney has the best deals for those looking to buy apparel and accessories, while Newegg has the best discounts on consumer electronics, Wallethub says.
In 2022, according to Wallethub, 130.2 million Americans shopped from home on Black Friday, while 122.7 million people shopped in person.
Meanwhile, according to WalletHub’s holiday shopping survey, 28 percent of American consumers plan to spend less during this year’s holiday season compared to 2022.
The survey also revealed more than one in three Americans are foregoing gifts this year due to inflation, as nearly one in four Americans still have holiday debt from last year.
In addition, nearly one in five people will apply for a new credit card to help with holiday shopping this season.
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