Home DESTACADOS 2023’s Best Places to Shop on Black Friday

2023’s Best Places to Shop on Black Friday

by Author Contribution

By Adam McCann, WalletHub Financial Writer

Black Friday shopping is one of America’s most popular holiday traditions, but there’s always a bit of hassle involved. Traditionally, shoppers have to get up early, stand in endless lines at stores and try to find deals through hordes of other shoppers — all in the name of savings. In 2022, though, Americans shopped from home on Black Friday more than they did in stores, with 122.7 million people getting their deals in person and 130.2 million making purchases online.

Black Friday sales have also been changing during the past few years. They are starting earlier, with some retailers starting their early holiday sales as early as October. That’s good news for consumers who want to stretch out their purchases over a longer period of time rather than buying everything in one day.

So which stores offer the best discounts, and for which items? To answer that question and help consumers maximize their Black Friday savings, WalletHub surveyed over 3,500 deals from 13 of the biggest U.S. retailers’ 2023 Black Friday ad scans. Below, we’ve listed the stores offering the largest advertised discounts in various product categories such as jewelry and appliances.

Best Places to Shop on Black Friday

Retailer 2023 Avg. % Discount by Retailer  2022 Avg. % Discount by Retailer  2021 Avg. % Discount by Retailer  2020 Avg. % Discount by Retailer  2019 Avg. % Discount by Retailer  2018 Avg. % Discount by Retailer  2017 Avg. % Discount by Retailer  2016 Avg. % Discount by Retailer  2015 Avg. % Discount by Retailer 
JCPenney 59.1% 64.7% 57.6% 56.7% 61.0% 65.1% 66.3% 62.8% 68.0%
Macy’s 58.2% 53.0% 58.5% 56.0% 46.1% 48.7% 45.6% 63.4% 56.0%
Belk 54.8% 64.2% 56.7% 50.0% 66.9% 68.9% 62.8% N/A 59.5%
Kohl’s 48.8% 44.2% 49.3% 51.9% 57.1% 60.8% 66.3% 58.1% 66.7%
Target 32.7% 32.9% 22.7% 28.1% 34.3% 34.8% 36.2% 28.6% 37.3%
BJ’s 30.1% 27.6% 26.1% N/A 39.3% 31.0% 32.1% 32.0% 30.6%
Best Buy 29.8% 22.9% 22.3% 25.3% 29.5% 28.7% 30.0% 33.2% 33.5%
Amazon 28.5% 25.7% 27.5% 26.5% 25.4% 29.3% 36.8% 24.7% 25.8%
Walmart 26.9% 28.4% 31.6% 27.8% 34.3% 29.9% 34.2% 32.6% 30.1%
Dell 25.8% N/A N/A 21.3% 28.6% 27.4% 29.3% 35.7% 35.3%
Newegg 22.4% 28.5% 20.0% 23.8% N/A 28.4% 28.3% N/A N/A
The Home Depot 20.8% 30.9% N/A 32.1% N/A N/A N/A N/A 31.4%
Costco 17.1% 16.8% 20.5% 22.0% 21.3% 25.1% 21.9% 25.4% 19.5%
Overall Average 35.0% 37.2% 32.4% 32.1% 40.4% 37.0% 37.1% 39.0% 40.2%

In-Depth Look at the Best Black Friday Retailers in 2023

JCPenney

JCPenney is the best place to shop on Black Friday because it offers an average discount of 59.1%. This is the fifth 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 a $6,249.98 diamond engagement ring for just $1,666.65. In addition to significant markdowns on jewelry and apparel, JCPenney has great deals on appliances, offering savings of 59.5% on average.

Macy’s

Macy’s has the second-best Black Friday discounts this year, saving you an average of 58.2% and as much as 85% on certain items. The store’s best deals by far are on jewelry, which will be 65.9% off, on average.

Macy’s is also known for its clothing 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%.

Belk

Belk is the third-best Black Friday retailer, even though it only has physical locations in 16 states, much fewer than the top two stores. At Belk, you’ll receive an average of 54.8% 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 new appliances, you’ll definitely want to consider Belk on Black Friday. You can save an average of 60.26%, which is close to twice the average appliance discount offered among all stores (33.5%). Other good categories to shop for at Belk include apparel and consumer packaged goods such as makeup, shampoo and perfume.

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