Former Toys ‘R’ Us Chairman and CEO and Storch Advisors CEO Gerald Storch provides insight into Amazon Prime Day, consolidation in retail, and the holiday shopping season.
Black Friday is coming up fast and even though this year will be different because of the coronavirus pandemic, there are still going to be plenty of deals -- but you still want to make sure you get the best bang for your buck.
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On Wednesday, WalletHub found which stores offer the best Black Friday discounts this year.
For its report, the personal finance website analyzed more than 7,000 deals from ad scans of 26 top U.S. retailers including Amazon, Best Buy, Costco, GameStop, JCPenny, Macy’s, Nordstrom, Office Depot, Sam’s Club, Staples, Target and Walmart.
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WalletHub also separated Black Friday deals into 11 categories including “Apparel & Accessories,” “Computers & Phones,” “Consumer Electronics,” “Consumer Packaged Goods,” “Toys,” “Appliances,” “Furniture,” “Jewelry,” “Books, Movies & Music,” “Video Games” and a final catchall category for any other products.
Aside from an overall ranking of the best stores for Black Friday deals, WalletHub also found which stores had the best deals within each of those categories.
According to WalletHub, department stores Belk and Macy’s are offering the best deals in multiple categories.
Belk has the best discounts in three categories -- computer and phones, toys and the catchall category -- while Macy’s has the best deals in two categories -- appliances and consumer packaged goods.
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Other department stores include JCPenny, which is offering the best deals on consumer electronics, and Kohl’s, which has the best deals on jewelry.
According to the report, apparel deals can be found at supermarket company Meijer, the best deals on furniture are at online retailer Newegg, the best deals on books, movies and music are at Walmart and the best deals on video game software are at Best Buy.
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WalletHub noted that some Amazon deals could be excluded from the report because the company “did not provide all the requested info for all their Black Friday deals.”
The website also said that many companies are changing their deals every week during the month of November, so some retailers could offer better markdowns that were not included in the Wednesday report.
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To see the overall ranking, here are the 10 best stores for Black Friday deals this year and their average percentage discount, according to WalletHub.
1. JCPenny
2020 Average Discount: 56.7 percent
2. Macy’s
2020 Average Discount: 56.0 percent
3. Kohl’s
2020 Average Discount: 51.9 percent
4. Belk
2020 Average Discount: 50.0 percent
5. Lenovo
2020 Average Discount: 44.1 percent
6. Nordstrom
2020 Average Discount: 39.0 percent
7. GameStop
2020 Average Discount: 38.8 percent
8. Office Depot and OfficeMax
2020 Average Discount: 33.3 percent
9. The Home Depot
2020 Average Discount: 32.1 percent
10. Meijer
2020 Average Discount: 32.0 percent
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November 21, 2020 at 04:06PM
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2020’s best Black Friday deals are at these retailers: report - Fox Business
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