Shoppers love Black Friday because they can save money and get an early start on Christmas gift shopping — but not all Black Friday deals are created equal.
The average item markdowns at popular stores vary from less than 20 percent to nearly 70 percent, according to a WalletHub survey published Friday detailing what stores will have the biggest Black Friday discounts.
WalletHub examined 7,000 Black Friday deals offered at 35 popular retailers including BJ’s, Stein Mart and Best Buy for the survey.
The top places to shop for deep discounts are Belk, JCPenney, Stage and Kohl’s, all of which offer average discounts of 60 to 70 percent according to WalletHub. Also at the top of WalletHub’s index were New York & Company, Payless Shoe Source and Dick’s Sporting Goods, all of which had average discounts hovering around 50 percent. (RELATED: These Are The Craziest Offers Cities And States Made To Attract Amazon HQ2)
Shoppers searching for apparel and accessories this Black Friday are in luck: Retail items like sweaters, slacks and shoes get the deepest discounts, according to the survey. Some of the best places to shop for clothes and accessories this Black Friday are Meijer, which offers average discounts of 64 percent; JCPenney, which offers average discounts of 63 percent; and Belk, which offers average discounts of 62 percent.
A view of guests shopping the Jetblack Holiday Marketplace Event at Cadillac House on Nov. 13, 2018 in New York City. Brian Ach/Getty Images for Jetblack
The survey recommended Lenovo and JCPenney for computers and phones, JCPenney and Shopko for furniture and Sears, Stage and Kohl’s for jewelry.
When it comes to holiday gifts for the little ones, WalletHub said Stage and Belk had the best deals on toys, while Best Buy and Walmart had the best deals on video games.
WalletHub found average discounts at Walmart and Target were lower than many others: roughly 30 percent and 35 percent, respectively. But the discounts were not as low as other popular retailers like Big Lots, Sam’s Club and Ace Hardware, whose discounts hovered around 20 percent.
WalletHub’s index is a helpful tool for planning Black Friday shopping, but if shoppers are looking for a specific item, they should be sure to check if specific retailers are offering deals.
Retailers have been gearing up for the holiday shopping season since September or earlier by hiring extra workers. U.S. consumers are expected to spend between $717 billion and $720 billion in total during the holiday season, an increase of more than 4 percent from 2017, according to the National Retail Federation.
That’s compared to the estimated $9 billion that U.S. consumers spent to celebrate Halloween and estimated $18 billion they spent on Easter in 2018, according to the National Retail Federation.
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