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Are prices lower on Black Friday? Report says not everything is on sale
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Are prices lower on Black Friday? Report says not everything is on sale

Black Friday is just around the corner, but shoppers may want to lower their expectations for the biggest shopping day of the year.

Personal finance website WalletHub said 41% of products did not offer greater savings on Black Friday compared to prices in previous days and weeks. That’s not to say you won’t find great deals on Black Friday, but it can vary depending on where you look.

WalletHub said jewelry offered the best savings at 37% off, followed by clothing and accessories at 31% off. Discounts on toys are usually around 23%.

Consumer electronics typically have discounts of less than 20%.

“WalletHub found that about 41% of Black Friday items offer no real savings to consumers compared to their usual prices, but sale items are on average 24% off, with the highest markdown at 89%,” Chip Lupo,” a WalletHub analyst said in the report.

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Last year, a record 200.4 million consumers shopped over the five-day holiday weekend from Thanksgiving Day to Cyber ​​Monday, according to the National Retail Federation. On Black Friday itself, more than 76 million Americans shopped in person while more than 90 million people shopped online.

Among those who shopped over Thanksgiving weekend last year, 49% purchased clothing and accessories.

The National Retail Federation expects Black Friday to be busy again this year with 131.7 million people shopping online, in person or both the day after Thanksgiving.

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Retailers say it’s not just good deals that attract customers. There is a social aspect involved in shopping on days like Black Friday.

“Young shoppers are most likely to take advantage of Thanksgiving weekend deals this year, with 89% of young adults ages 18 to 24 planning to shop over the weekend,” said Phil Rist, executive vice president of strategy for Prosper Insights & Analytics. “The social aspect of holiday shopping also appeals to this age group, and they are more likely to shop because it is a group activity that can be enjoyed with friends and family (20%) .