With last year’s Black Friday sales drawing 76.2 million Americans to shop in person and 90.6 million to shop online, the personal-finance website WalletHub today released its report on the Best Places to Shop on Black Friday in 2024 to help consumers maximize their savings.
| Best Black Friday Retailers (Avg. Discount) | |
| 1. JCPenney (76.20%) | 6. The Home Depot (32.43%) |
| 2. Belk (72.68%) | 7. Amazon (32.05%) |
| 3. Macy’s (57.13%) | 8. BJ’s (28.86%) |
| 4. Kohl’s (43.55%) | 9. Target (28.65%) |
| 5. Walmart (37.75%) | 10. Best Buy (28.43%) |
Key Stats
- JCPenney has the highest overall discount rate, at 76.20%, whereas Costco has the lowest at 18.27%.
- The overall average discount for Black Friday is 38%. Consumers should aim for this discount amount or higher to avoid Black Friday traps.
- The “Computers & Phones” category has one of the biggest shares of discounted items, 29.32% of all offers, whereas the “Consumer Packaged Goods” category has the smallest at 2.43%.
In-Depth Look at the Best Black Friday Retailers in 2024
JCPenney
JCPenney is the best place to shop on Black Friday because it offers an average discount of 76.2%. This is the sixth time JCPenney has earned the top spot in this report since 2014.
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 an $18,749.98 diamond engagement ring for just $3,799.99. In addition to significant markdowns on jewelry and apparel, JCPenney has great deals on appliances, offering savings of 58.5% on average.
Belk
Belk is the second-best Black Friday retailer, even though it only has physical locations in 16 states, much fewer than the other top two stores. At Belk, you’ll receive an average of 72.7% off your purchases, and you can still take advantage of deals online if you don’t have a location near you.
If you’re in the market for jewelry, you’ll definitely want to consider Belk on Black Friday. You can save an average of 77.08%, which is considerably more than the average jewelry discount offered among all stores (59.7%). Other good categories to shop for at Belk include apparel and consumer electronics such as TVs, digital cameras and electric shavers.
Macy’s
Macy’s has the third-best Black Friday discounts this year, saving you an average of 57.1% and as much as 85% on certain items. The store’s best deals by far are on jewelry, which will be 70% off, on average.
Macy’s is also known for its furniture 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%.
To view the full report and each retailer’s rank in all product categories, please visit:
https://wallethub.com/edu/best-worst-retailers-for-black-friday/8385/
