Holiday shopping? These retailers offer the best Black Friday discounts, report says
Black Friday is just around the corner, but as with most things in 2020, it’s going to look a little different this year.
Several retailers announced they will closed on Thanksgiving, Nov. 26, ending the modern tradition of rolling out in-store holiday deals while the turkey is still hot.
But that doesn’t mean Black Friday deals won’t start early. On the contrary, many retailers have moved their Black Friday sales online and extended them to the entire month of November in an effort to diffuse crowds during the ongoing coronavirus pandemic.
Which stores will be closed on Thanksgiving Day? Here’s what major retailers have said
The Centers for Disease Control and Prevention have deemed Black Friday shopping a “higher risk” activity, so many shoppers say they’re planning to shop from home.
In a survey by the National Retail Federation, a whopping 70% of shoppers said they were somewhat or not at all likely to shop in-store on Black Friday, Nov. 27.
But while Black Friday may play out differently, for many, the goal remains the same — to snag some serious deals during the holiday shopping season.
Here are the retailers offering the best discounts, according to a report from personal finance website WalletHub.
Retailers offering the best Black Friday discounts
WalletHub analyzed nearly 7,000 deals in ad scans from 26 of the biggest retailers in the U.S. to determine the stores with the best average Black Friday discounts.
The winner? JCPenney, with an average discount of 56.7%, the report said.
Macy’s nabbed the No. 2 spot with an average discount of 56%, followed by Kohl’s with 51.9% in the No. 3 spot. Belk ranked fourth with an average discount of 50% and Lenovo ranked fifth at 44.1%.
Black Friday hot spots such as Walmart and Target were further down the list. Walmart ranked 15th with an average discount of 29.2% and Target ranked just behind in 16th at 28.1%.
Best discounts by category
Wallethub also broke down its findings by shopping category.
Those shopping for clothes and accessories will find the best average discounts at Meijer (64.2%), Macy’s and Belk, according to the report.
Shoppers looking for deals on electronics — excluding computers and phones — will find the deepest average discounts at JCPenney (48%), Belk and Academy Sports + Outdoors. For computers and phones, retailers offering the deepest average discounts are Belk (45.4%), Lenovo and JCPenney.
Looking for toys? Belk is your best bet, with an average discount of 49%, followed by Meijer and Academy, the report said.
If it’s jewelry you’re after, Kohl’s offers the deepest average discount (72.9%). Macy’s nabbed the No. 2 spot and JCPenney ranked third, according to the report.
Retailers with the best average discounts for books, movies and music were Walmart (63.9%), Meijer and Best Buy. For video games, Best Buy reigned supreme with an average discount of 50.4%, followed by Walmart and GameStop.
This story was originally published November 18, 2020 at 9:39 AM with the headline "Holiday shopping? These retailers offer the best Black Friday discounts, report says."