11% of items at major retailers are more expensive than current Amazon prices on the day after Thanksgiving but the advantage of shopping at places like Macy’s, Belk, and JC Penney is they offer more significant discounts than Amazon.
In its 2021 Best Places to Shop on Black Friday, WalletHub found Macy’s was the best place to shop on Black Friday due to having the largest average discount at 58.5%, followed by JC Penney with an average discount of 57.6%, Belk at 56.7%, Kohl’s at 49.3%, Nordstrom at 33.2%, and Walmart at 31.6%.
“Macy’s has bigger discounts than Amazon across the board in apparel and accessories, computers and phones, consumer electronics, consumer packaged goods, toys, appliances, furniture, jewelry, and all other product categories,” said Jill Gonzalez, a WalletHub analyst.
According to the study, the average discount at Amazon was only 27.5%, but people continue to shop online for convenience, Gonzalez said.
WalletHub defines consumer packaged goods as products people use and frequently replace, such as food, beverages, cosmetics, and cleaning products.
“Amazon is a huge retailer, and has the advantage of being accessible from anywhere since it’s online,” she said. “Macy’s only has a limited number of stores where people can do their shopping.”
WalletHub findings include deals from 21 of the biggest U.S. retailers, but data from discount stores such as Burlington Coat Factory, TJ Maxx, and Ross Dress for Less were not included in the study.
“During the past few years, Black Friday sales have been changing and are starting earlier,” Gonzalez told Dallas Express. “This means shoppers don’t need to wait until Black Friday to make a discounted purchase. Because some stores begin offering discounts weeks ahead of the actual shopping holiday, people can benefit and stretch out their purchases over a longer period of time.”
The Monday after Thanksgiving is also known as a great day to save money online, according to Gonzalez.
“Black Friday is more centered on discounts for bigger ticket items while Cyber Monday is for small electronics, appliances, and clothes,” Gonzalez said in an interview. “Another difference is that Black Friday shopping traditionally happens in-store, while Cyber Monday shopping is online only. However, this changed in the past year because of COVID. Lastly, people tend to spend more on Black Friday than on Cyber Monday.”
Gift cards are the most popular type of present for the 15th consecutive year, according to WalletHub’s 2021 Best Gift Card study.
“Gift cards are the most popular type of present because they make gift-giving simpler,” Gonzalez said. “You don’t need to worry about a person’s taste or whether or not they already have a certain item. Gift cards take the guesswork out of gift-giving. This is what makes them so popular.”
Among the best gift cards for 2021 are Starbucks and Chick-fil-A.
“Both Starbucks and Chick-fil-A are very popular places,” Gonzalez added. “The Starbucks gift card offers a 5.04% buyer discount while the Chick-fil-A gift card has a high average resale value of almost $80 for a $100 card.”
WalletHub further found in its 2021 Best Gift Exchange that shoppers can purchase discounted gift cards at Gift Card Granny, Raise, or Giftcardbin. For sellers, the best exchanges are CardCash.com, Raise, and Giftcard Zen.