NEW YORK (TheStreet) -- You can get a great deal on Black Friday but you have to know where to go.
Clamoring for consumer dollars from holiday shoppers, retailers have already released their special deals in Black Friday circulars, with some like Walmart (WMT) , Sears' (SHLD) Kmart and Amazon (AMZN) kicking off sales well before next Friday, in a bid to one-up each other. Figuring out which stores give the best discounts will be the key to a successful day of shopping. And the best deals may not be where you think, according to personal finance website WalletHub.
WalletHub analyzed more than 5,000 online and in-store deals from 22 retailers' Black Friday circulars to determine where consumers can do best. WalletHub looked at the average markdown of merchandise, broken into six major categories, and noted retailers' average percent markdown per category as well as across all goods.
The results are surprising. For instance, Macy's (M) has the best Black Friday discounts on consumer electronics, with an average merchandise discount of 65.29%, the survey found. In toys, Kohl's (KSS) beat out other retailers, with an average discount of 48.18%. Sears wins the apparel and accessories category with an average merchandise discount of 69.02%.
The overall average discount for Black Friday is 39%, which means consumers shouldn't settle for a deal that comes in less than that. Click through to see which retailers have the biggest overall Black Friday discounts. They are ranked from lowest discount to highest.
Average Discount: 38.56%