While many retailers claim to have the best Black Friday deals, where do you really save the most?

Personal-finance company WalletHub released its 2025 list of "Best Places to Shop on Black Friday" by analyzing more than 3,100 deals from 13 of the largest U.S. retailers’ 2025 Black Friday ad scans. To compile its list, WalletHub calculated the average discount that each retailer plans to offer.

Here's which major retailers came out on top when it comes to savings, according to the study.

JCPenney

Topping the list is JCPenney, which offers an average discount of 74.1% on Black Friday, according to WalletHub. In addition to significant markdowns on jewelry and apparel, JCPenney offers an average of 57.6% off appliances.

Belk

The department store Belk came in second for the largest Bl

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