Top stores offering average discounts at around 60 percent off, according to WalletHub.
With Black Friday just over a week away, competitive ads, promotions, and coupons from stores make it difficult to find the best deal for the average budget. According to the National Retail Federation, American shoppers will spend approximately $594.80 on gifts, this holiday season.
Forbes reports that “data gurus” surveyed 8,000 Black Friday ads from 30 of the largest retailers in the U.S. Included among these were stores known for “doorbuster deals” like Best Buy and Walmart.
The research, done by WalletHub, figured out the average discount offered by companies on Black Friday, versus the pre-discount price. This allows more credit to be given to stores that are discounting higher-ticket items like electronics.
JCPenney is offering the steepest discounts, with discounts averaging at around 68 percent. Kohl’s follows closely behind, with average discounts of around 66.7 percent. Online discount service Groupon broke the top five, with the fourth highest Black Friday average discount of 63.7 percent. Belk, Macy’s, and Kmart hover around the 50 percent discount mark. Office Depot and Office Max take the number 10 spot, with average discounts of 42. 8 percent.
Despite their reputation, Walmart is further down the list, coming in at 23 percent. Discounts from Walmart are averaging at only around 30.1 percent. Amazon nears the bottom of the list, at 28 out of 30. Although the online retailer is offering advance access to deals for its Prime members, discounts from Amazon only average around 25.8 percent off.