The 2025 Black Friday Champion? JCPenney Tops Among Major Retailers For 7th Time Since 2014

Where Not To Shop For Holiday Deals: Costco Ranks Dead Last In Study

Shoppers on the hunt for the best Black Friday discounts this year should head to JCPenney. The department store chain reclaimed its position as the Black Friday discount leader among 13 major retailers analyzed by WalletHub. JCPenney offers an average savings of 74.1% across its deals, marking the seventh time it has topped these rankings since 2014.

This year’s analysis of over 3,100 Black Friday deals among 13 major U.S. retailers reveals a dramatic split in the market. While JCPenney leads the pack, followed closely by Belk at 72.4% and Kohl’s at 45.4%, other household names lag far behind. Costco, despite its reputation for value, ranks dead last with an average discount of just 15.1%.

JCPenney’s advantage goes well beyond percentage points. Shoppers willing to make big-ticket purchases can find eye-popping deals, including a diamond engagement ring originally priced at $14,583.32 marked down to $3,999.99. Jewelry stands as one of JCPenney’s strongest categories, but the store also delivers solid savings on appliances, with an average discount of 57.6%.

Belk and Kohl’s Round Out the Top Three

Coming in second place, Belk operates in just 16 states but makes up for its limited footprint with substantial savings. The retailer offers an average discount of 72.4%, with particularly strong deals in jewelry where shoppers can save an average of 77.7%. That’s well above the multi-retailer average of 42.2% for the jewelry category.

Kohl’s secures third place with 45.4% average discounts. While this represents a significant drop from the top two retailers, Kohl’s shines in apparel and accessories, where discounts average 53.5%. The store’s appliance deals also merit attention, with items marked down by an average of 42.4%.

Where Other Major Retailers Stack Up For Black Friday Discounts And Sales

Macy’s lands in fourth place with 44.5% average discounts, followed by The Home Depot at 35.6%. Among the mass-market retailers, Amazon offers 29.6% average savings, while Target clocks in at 29.4%. Walmart, despite its low-price positioning, has average discounts of 28.5%.

Best Buy and Newegg, both focused heavily on electronics, show average discounts of 28.6% and 28.8% respectively. Dell, specializing in computers, offers the second-lowest average discount at 19.9%.

The analysis examined deals across nine product categories, including apparel and accessories, computers and phones, consumer electronics, consumer packaged goods, toys, appliances, furniture, jewelry, and other products. Jewelry consistently offers the highest average discounts at 42.2%, while consumer packaged goods has the lowest average savings at 24.4%.

Distinguishing Real Deals From Marketing Ploys

According to WalletHub analyst Chip Lupo, the best Black Friday deals can save shoppers up to 86% this year. “Knowing which retailers actually offer significant deals compared to their normal prices can save you a lot of time and prevent buyer’s remorse,” Lupo said.

Of course, not all advertised discounts deliver genuine value. Dr. Deborah Y. Cohn, a professor of marketing at New York Institute of Technology who studies advertising ethics, warns that many Black Friday promotions exploit shoppers’ emotions rather than provide real savings.

“Marketing traps are persuasive tactics that exploit consumers’ cognitive and emotional biases to drive purchases that feel irresistible but are often unnecessary,” Cohn said. “Black Friday deals often rely on these psychological and cultural triggers which can make consumers spend far beyond their planned budgets.”

Cohn distinguishes between legitimate discounts and manipulative tactics. “Real Black Friday deals are transparent, practical, and value-driven,” she said. “Marketing traps are emotional, manipulative, and urgency-based.”

Black Friday Shopping Has Gone Digital

Black Friday itself has transformed in recent years. Retailers now launch holiday promotions as early as October, allowing consumers to spread purchases across several weeks rather than concentrating on a single shopping day.

Data from 2024 shows Americans increasingly prefer shopping from home. Online purchases reached 87.3 million compared to 81.7 million who ventured into physical stores.

For shoppers targeting specific categories, the data offers clear recommendations. Jewelry hunters should focus on Belk and JCPenney, where discounts far exceed other retailers. Appliance shoppers will find the best deals at JCPenney, Belk, and Kohl’s. Those seeking consumer electronics should compare offers across Best Buy, Newegg, and The Home Depot, which all show similar discount levels in that category.

Strategies for Avoiding Overspending

Cohn offers practical advice for consumers hoping to take advantage of legitimate deals without falling into spending traps. “The best defense is awareness,” she said. “Do your research before Black Friday so you know prices and values and brands.”

She recommends tracking purchases throughout the shopping day. “Write down each purchase in a notebook as you go through the day, and consult it as you make each purchase so that you know what you have already spent when you approach each new purchase,” Cohn said. “When you make each purchase conscious and deliberate you set yourself up for success.”

JCPenney’s seventh win since 2014 shows a long-running pattern of steep Black Friday discounts in WalletHub’s rankings. The study compares advertised regular prices and sale prices, not how base prices are set behind the scenes, but this track record shows JCPenney consistently puts very large markdowns in front of Black Friday shoppers.

While the rankings focus on average discounts, shoppers should recognize that individual deals vary significantly. A retailer ranking lower overall might still offer the best price on a specific item a shopper needs. Price comparison across multiple retailers remains worthwhile, particularly for expensive purchases where even small percentage differences translate to substantial dollar savings.

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