The holiday season is fast approaching and so are the massive Black Friday deals. To find incredible savings in the past, shoppers had to get up early, wait in long lines at stores and try to find bargains among throngs of other people. Now, shoppers can go online from the convenience of their own homes to find those deals.
Last year, the number of Americans who shopped online on Black Friday hit 88 million. In 2022, that number surpassed 100 million for the first time, while in-store shopping fell by 37%, WalletHub reported. In 2022, many businesses are starting their sales earlier than ever, which is great for consumers who want to stretch their purchasing power.
So, with so many sales going on, where should shoppers look to find the best savings? WalletHub surveyed nearly 4,000 deals from 16 of the biggest U.S. retailers to find out. Here’s what they discovered:
Macy’s, JCPenney and Belk are the best places to shop on Black Friday in 2022, offering an average discount of at least 53%.
In general, the discounts are stacking up the highest for jewelry, followed closely by apparel and accessories.
For the best jewelry deals, Kohl’s is offering a whopping average 75.76% discount. For the best apparel and accessory deals, Belk is standing tall at a 64.07% discount rate.
Overall, the major retailers surveyed by WalletHub offer an average 37.2% in Black Friday savings, 5.1% more savings than in the last two years. Bulk retailer Costco pulled down the average significantly with their much lower average Black Friday discount offering of 16.8%, the lowest average savings recorded by WalletHub this year.
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