Report: Wyoming-Born Store Best Place to Shop on Black Friday

For the fifth time since 2014, a department store chain founded in Wyoming has earned the top spot on WalletHub's "Best Places to Shop on Black Friday" report.

In order to find out which stores offer the best discounts, and for which items, the personal finance website surveyed over 3,500 deals from 13 of the nation's biggest retailers’ 2023 Black Friday ad scans and calculated the average discount that each retailer plans to offer.

WalletHub then organized the deals into nine product categories -- Apparel & Accessories, Computers & Phones, Consumer Electronics, Consumer Packaged Goods, Toys, Appliances, Furniture, Jewelry, and All Other Product Categories.

WalletHub found JCPenney is the best place to shop this Black Friday because it
has the highest overall discount rate, at 59.1%, whereas Costco has the lowest at 17.1%.

"JCPenney offers some steep discounts on extremely expensive items this year, too," the report reads. "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 took the second spot on WalletHub's report, followed by Belk, Kohl's, Target, BJ's, Best Buy, Amazon, Walmart, Dell, Newegg, The Home Depot, and Costco.

Best Black Friday Retailers (Avg. Discount)

1. JCPenney (59.1%)
2. Macy's (58.2%)
3. Belk (54.8%)
4. Kohl's (48.8%)
5. Target (32.7%)
6. BJ's (30.1%)
7. Best Buy (29.8%)
8. Amazon (28.5%)
9. Walmart (26.9%)
10. Dell (25.8%)
11. Newegg (22.4%)
12. The Home Depot (20.8%)
13. Costco (17.1%)

WalletHub says the overall average discount for Black Friday is 35% and consumers should aim for this discount amount or higher to avoid Black Friday traps.

To view the full report and each retailer’s rank in all product categories, click here.