Macy’s earns top spot in survey of Best Places to Shop
Stores expecting shopping resurgence
Macy’s is known for its fashionable apparel and accessories, but toys?
According to a survey of the Best Places to Shop on Black Friday by WalletHub.com, Macy’s ranked No. 1 for toys, followed by JCPenney and Belk, online to Michiganders, BJ’s, and Kohl’s.
Over the years, Black Friday shopping has become a tradition for many Americans looking to get a start on their holiday wish lists, 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.
Last year, however, in-person shopping was very limited by the pandemic and for the first time in its history, the number of Americans who shopped online on Black Friday passed 100 million, while in-store shopping dropped by 37%.
This year, most businesses have reopened, so there is likely to be a resurgence of shoppers showing up to shop indoors during the Black Friday sales.
Another change over the years is the kick-off to Black Friday.
Many stores have already started their sales.
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 or have no intention of giving up their time with family members during the Thanksgiving Day weekend.
So, where are the best deals? To answer that question and help consumers maximize their Black Friday savings, WalletHub surveyed nearly 5,000 sales going on at major stores across the country, including Academy Sports and Outdoors, Ace Hardware, Amazon, Belk, Best Buy, Big Lots, BJ’s, Costco, Dell Home, HP, JCPenney, Kohl’s, Lenovo, Macy’s, Newegg, Nordstrom, Office Depot and OfficeMax, Overstock.com, Sam’s Club, Target and Walmart. These were then compared in several categories such as toys and jewelry.
Key results of the survey showed Macy’s has the highest overall discount rate at 58.51%, whereas Ace Hardware has the lowest at 11.73%.
The overall average discount for Black Friday is 32%. Consumers should aim for this discount amount or higher to avoid Black Friday traps. The “Apparel & Accessories” category has one of the biggest shares of discounted items, 18.40% of all offers, whereas the “Consumer Packaged Goods” category has the smallest at 3.47%.
Based on discounted items available, the top 10 best Black Friday retailers include:
• Macy’s (58.51%)
• JCPenney (57.63%)
• Belk (56.69%)
• Kohl’s (49.32%)
• Office Depot and Office Max (42.85%)
• Lenova (40.29%)’
• Nordstrom (33.21%)
• Walmart (31.60%)
• HP (31.34%)
• Big Lots (29.19%) Here’s how the retailers were ranked in the different categories:
Apparel and accessories
• JCPenney (58.89%)
• Belk (online only Michigan)
• Macy’s (44.69%)
• Kohl’s (44.69)
• Nordstrom (43.97%)
Computers and phones
• Macy’s (53.50%)
• Belk (43.80%)
• Walmart (40.77)
• Lenova (40.77%) in • Kohl’s (37.63%)
Consumer electronics
• Macy’s (58%)
• JCPenney (48.84%)
• Belk (39.08%)
• Kohl’s (36.64)
• Newegg (34.08)
Consumer packaged goods
• Macy’s (48.91%
• JCPenney (42.23)
• Ace Hardware (28.77)
• Amazon (27.38%)
• Belk (23.61%)
Toys
• Macy’s (56.58%)
• JCPenney (54.66)
• Belk (48.75%)
• BJ’s (39.86)
• Kohl’s (33.24%)
Appliances big and small
• Belk (60.68)
• Macy’s (57.62%)
• JCPenney (53.66%)
• Big Lots (41.91%)
• Kohl’s (39.92%)
Furniture
• Office Depot and Office Max (49.17)
• Macy’s (41.54%)
• BJ’s (34.27%)
• Target (33.04%)
• Amazon (28.05%)
Jewelry
• Belk (80.22%)
• Kohl’s (75.58%)
• Macy’s (65.97%)
• JCPenney (57.66%)
• Costco (22.48%)
The lion’s share of discounts being offered on Black Friday is in the apparel and accessories department
followed by computers and phones, jewelry, toys, appliances, consumer electronics, furniture, and consumer packaged goods.
Lastly, here are a few tips for maximizing bargains on Black Friday.
“There are some e-commerce websites and credit card companies that give cashback for purchases consumers made through their website. This is an additional discount on top of bargains on Black Friday. Another tip includes signing up for emails for additional discounts (typically 10-20% for the first purchase),” said Byoungho “Ellie” Jin, president of the International Textile and Apparel Association and professor at North Carolina State University.
Buyers should also have a plan before venturing out into the madness.
“What are you looking for? What is your budget? Make a list and check it twice. Read consumer advice columns. I have been reading, ‘The Strategist and The Wirecutter,’ lately. But many reputable sites have a track record for offering thoughtful advice about quality and price,” said Penne Restad, senior lecturer for Thomas Jefferson Center for the Study of Core Texts and Ideas and the University of Texas at Austin.