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Groupon to Offer Steepest Jewelry Discounts on Black Friday: WalletHub

Nov 19, 2015 4:54 AM   By Rapaport News
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RAPAPORT... Groupon will offer the steepest discounts on jewelry products out of 30 major U.S. retailers on Black Friday, according to WalletHub.

The e-commerce group will slash jewelry prices by 85 percent on average, which is more than at Meijer (80 percent), Stage (77 percent), Kohl’s (74 percent) and Kmart (74 percent), the consumer site said in a statement November 17. Macy’s, at 60 percent, will offer the lowest reduction.

Jewelry will be the most discounted product category across the market on November 27, with mean cuts of 73 percent, according to the survey. WalletHub polled 8,000 promotions from 30 large U.S. retailers. It calculated an average discount, giving more weight to deals that knocked dollars off higher-priced products.

Across all product types, J.C. Penney will provide the biggest discounts, at 68 percent, followed by Kohl’s (67 percent), Stage (64 percent) Groupon (64 percent) and Belk (60 percent). The lowest cuts across the market will come from Costco, at 20 percent.

The most discounted categories after jewelry will be books, movies and music, with 56 percent cuts, and apparel and accessories (50 percent). The least discounted classification is computers and phones, where average reductions are expected to be 31 percent.

Separately, a survey by analytics company Influenster, carried by U.S. advertising trade publication Adweek, found 93 percent of the so-called millennials – the generation born between the early 1980s and early 2000s – will shop on Black Friday or Cyber Monday, November 30. About 61 percent will shop in physical stores on Black Friday, while 67 percent will shop online on either day.
Tags: baby boomers, black friday, cyber monday, e-commerce, groupon, Influenster, J.C. Penney, Jewelry, Kmart, Kohl’s, Macy’s, Meijer, Millennials, promotions, Rapaport News, Stage, US, WalletHub
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