WalletHub: These are the stores with the biggest Black Friday discounts

Tips for Surviving Black Friday

A whopping 122.7 million Americans took advantage of Black Friday deals going on in stores last year, according to WalletHub. To determine which stores have the best deals this year, the finances website surveyed over 3,500 deals from the 13 largest U.S. retailers’ 2023 Black Friday ad scans. The results revealed some big savings are out there, if you know where to look.

Here’s where you can best spend your hard-earned cash this Black Friday.


Retailer JCPenney ultimately earned the top spot in WalletHub’s report, sporting an average Black Friday 2023 discount of 59.1%. It’s an accomplishment the nationwide seller of clothing, jeweler and countless other items has achieved numerous times before.

“This is the fifth time JCPenney has earned the top spot in this report since 2014,” WalletHub reported. “JCPenney offers some steep discounts on extremely expensive items this year, too. If you’re ready to propose to that special someone, you can get a $6,249.98 diamond engagement ring for just $1,666.65. In addition to significant markdowns on jewelry and apparel, JCPenney has great deals on appliances, offering savings of 59.5% on average.”


With an average markdown of 58.2%, and as much as an 8% discount on certain items, Macy’s took second place in WalletHub’s report this year.

“The store’s best deals by far are on jewelry, which will be 65.9% off, on average,” WalletHub reported. “Macy’s is also known for its clothing selection, and that’s the second-best product category for Macy’s Black Friday discounts, with items marked down by an average of 52.6%.”


With physical locations in just 16 states, including Georgia, Belk does not have the same nationwide store presence as its WalletHub ranking superiors, but the store does offer an average discount of 54.8% off in-store purchases. Many of those discounts can also be found online.

“If you’re in the market for new appliances, you’ll definitely want to consider Belk on Black Friday,” WalletHub reported. “You can save an average of 60.26%, which is close to twice the average appliance discount offered among all stores (33.5%). Other good categories to shop for at Belk include apparel and consumer packaged goods such as makeup, shampoo and perfume.”