With the day-after-Thanksgiving shopping excitement of Black Friday nearing, personal-finance website WalletHub has sifted through deals offered by 13 large U.S. retailers, for its report on 2023’s Best Places to Shop on Black Friday.
According to WalletHub, JC Penney is the best place to shop on Black Friday, with an average discount of 59.1% — far above the industry-wide average of 35%. The study points to a $6,249 diamond engagement ring, which is on sale for $1,666.
This is the fifth time JC Penney has topped the list in the report since 2014.
The second-best Black Friday deals this year are at Macy’s, with an average savings of 58.2%. WalletHub said Macy’s best deals are on jewelry, which will be 65.9% off, on average.
Belk is the third-best Black Friday retailer, even though it only has physical stores in 16 states — far fewer than the top to retailers. The average savings at Belk will be 54.8%, and shoppers can take advantage of deals online, if a brick-and-mortar store isn’t located nearby.
Overall, combining data from all the retailers polled, the largest discounts — 15.72% — are concentrated in Apparel and Accessories, followed by Computers and Phones, at 15.63%.
Some retailers are offering far smaller discounts: Black Friday deals at Costco will amount to a savings of 17.1% — slightly behind Home Depot’s discount of 20.8%.
Here is WalletHub’s list of Top 10 Black Friday Retailers, based on the average discount percentage:
| 1. JCPenney (59.12%) | 6. BJ’s (30.11%) |
| 2. Macy’s (58.19%) | 7. Best Buy (29.78%) |
| 3. Belk (54.76%) | 8. Amazon (28.48%) |
| 4. Kohl’s (48.81%) | 9. Walmart (26.88%) |
| 5. Target (32.70%) | 10. Dell (25.79%) |
