Not all Black Friday sales offer equally good deals — and a new analysis illustrates just how true that is this year.
WalletHub found that the average discount offered by major retailers ranges from as little as 16.3 percent to as much as 68.9 percent.
This analysis is based on a review of 7,000 deals from the Black Friday ads of 35 of the biggest U.S. retailers.
The smallest and biggest Black Friday discounts
WalletHub found that 37 percent is the average Black Friday discount among all the retailers included in its analysis.
At the seven lowest-ranked retailers, however, the average discount is no more than about 25 percent. They are:
- True Value — average Black Friday discount is 16.3 percent
- Gander Outdoors — 18 percent
- Ace Hardware — 21.9 percent
- Sam’s Club — 22.3 percent
- Big Lots — 22.9 percent
- Harbor Freight — 23.5 percent
- Costco — 25.1 percent
At the other end of the spectrum are retailers that offer discounts of at least about 50 percent. These highest-ranked retailers are:
- Belk — average Black Friday discount is 68.9 percent
- JCPenney — 65.1 percent
- Stage — 62.1 percent
- Kohl’s — 60.8 percent
- New York & Co. — 54.5 percent
- Payless ShoeSource — 50.3 percent
- Dick’s Sporting Goods — 49.9 percent
What it means for you
Discounts can be deceiving.
Multiple department stores have been sued over the years for manipulating prices in a way that makes discounts seem bigger than they actually are. We detail this in “Why You Should Think Twice Before Paying a ‘Sale’ Price.”
Additionally, it’s possible that the discounts offered by wholesale chains like Costco and Sam’s Club are smaller compared with those of other retailers because wholesale chains’ everyday prices are already lower than those of other retailers.
So, while analyses like WalletHub’s are handy tools for deal seekers, you should always do your own homework. Even on Black Friday or Cyber Monday, you should compare prices before plunking down your hard-earned cash, especially for a big-ticket purchase.
What’s your take on Black Friday discounts? Sound off below or over on Money Talks News’ Facebook page.