Big retailers are touting greater discounts on jewelry than any other category for Black Friday, with the average advertised price-cut totaling 73 percent, according to a new survey by WalletHub.
The Washington, D.C.–based personal finance site scanned 8,000 Black Friday deals offered by 30 of the biggest U.S. retailers.
Jewelry was also the most heavily discounted category in 2014—though last year, the average discount was a far lower 58 percent.
This year, jewelry far outpaced every other category as far as advertised discounts. The number two category—books, movies, and music—averaged a 56 percent discount, roughly even with last year.
Groupon advertised the highest discounts on jewelry in its Black Friday sales, averaging 84 percent. Among its Black Friday jewelry deals: 14k white gold ball stud earrings for $24.99 (listed value: $175), genuine cultured freshwater pearl earrings for $9.99 (listed value: $50), and a “randomly selected piece of genuine diamond jewelry,” with 1 ct. t.w. of J I3 stones for $40 (listed value: $499).
Meijer is next, advertising an average 80.23 percent jewelry discount; Stage Stores, 76.59 percent; Kohl’s, 73.98 percent; and Kmart, 73.82 percent.
WalletHub analyst and spokesperson Jill Gonzalez gives JCK the following reasons why jewelry consistently tops the list:
– “It is something that stores really want to move out in terms of inventory, whereas other categories, like electronics, people buy all year.”
– There is no list price for jewelry. “It’s much easier to compare appliance and electronic prices.” For this reason, it’s usually an exception to retailer price-protection policies.
– It is usually one of the most expensive items, “so there is more to discount.”
(Image courtesy WalletHub)