Site looks at the best and worst average discounts for Black Friday sales.
Tired of looking through stacks of newspaper ads and doing constant online searching to try to find who has the best deals for Black Friday shopping?
WalletHub, an online site that touts itself as a one-stop destination for all the tools and information consumers need to save money, just released its analysis of the Best and Worst Retailers for Black Friday Deals.
To make their analysis, the firm surveyed 8,000 deals from 30 of the United States’ largest retailers, scanning their ads, and identifying the retailers with the largest advertised discounts for a number of categories, including jewelry and appliances.
According to the website, the survey calculated the average discount that each of the retailers in the survey was planning to offer consumers. Additionally, the average discount was weighted based on the pre-discounted price of an item, to give more credit to retailers discounting high-ticket items.
After collecting the data, the site organized the advertised deals into 11 product categories to allow the consumer to focus on the types of deals in which they were interested. Each retailer had to offer at least five discounted items to be included in a category.
Ranking the retailers by the highest average percentage of discount, JCPenney came in at the top spot with an Average Percent Discount of 68.0 percent. Closely behind were Kohl’s, Stage, and Groupon, all with greater than 60 percent average discounts. Belk rounded out the top five at 59.5 percent.
The bottom five were Costco, at 19.5 percent, Sam’s Club, Amazon, Big Lots and Walgreeen’s, all with an average discount of less than 29 percent. Not surprisingly, retailers that already advertise lower-than-normal pricing were near the bottom.
In the Apparel and Accessories category, Groupon was the clear winner at 84.2 percent, and also took the top spot in Consumer Electronics (63.43 percent) and Jewelry (84.91 percent).
Department stores took the top spots for Toys (Belk), Appliances (Macy’s) and Furniture (Kohl’s), while JCPenney won in the catch-all category, All Other Products.
More details of the survey can be found on the company’s website here, along with some tips for being a savvy Black Friday shopper.