Pandemic or no pandemic, the holidays will be celebrated. That means you want to get good deals on Hanakkuh and Christmas gifts — or something for yourself.
Forget camping out to be first in line or fearing an elbow in your side as you reach for that 55″ smart TV. In fact, financial website WalletHub said 70% of consumers are “not likely at all” or “somewhat unlikely” to shop in stores on Black Friday, and merchants expect online sales to make up a much larger portion of their total sales compared to last year.
So which stores offer the best discounts and for which items?
To determine the answer, WalletHub surveyed nearly 7,000 deals from 26 of the biggest U.S. retailers' 2020 Black Friday ad scans. They then organized the deals into 11 product categories such as “apparel & accessories,” “consumer electronics” and “video games.” When calculating the category averages, they took into account only the retailers that had at least five discounted items in that particular category.
WalletHub said Amazon did not provide all the requested info for all their Black Friday deals. As a result, some deals could not be included in their calculations.
The top 10
- JCPenney: 56.71%
- Macy’s: 55.97%
- Kohl’s: 51.87%
- Belk: 50.01%
- Lenovo: 44.06%
- Nordstrom: 39.05%
- GameStop: 38.81%
- Office Depot and OfficeMax: 33.29%
- The Home Depot: 32.07%
- Meijer: 32.02%
JCPenney has the highest overall discount rate at 56.71%, whereas Ace Hardware has the lowest, at 8.63%.
Other key stats include:
- The overall average discount for Black Friday is 32%. Consumers should aim for this discount amount or higher to avoid Black Friday traps.
- The “computer & phones” category has one of the biggest shares of discounted items, 15.85% of all offers, whereas the “books, movies & music” category has the smallest at 2.74%.
- The pie chart above displays the product categories in which discounts are more heavily concentrated, represented in percentage terms. The percentages do not represent average discounts.
- The bar graph above displays the average discount percentage for each product category.
You can read the full report on WalletHub’s site.
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