REUTERS/Kamil Krzaczynski

Store employee helps a customer with his purchase at Target in Chicago.

Thanksgiving is almost here, and that means that some of the year's biggest discounts on Black Friday are also coming soon. Two popular retailers, Best Buy and Target, are going head-to-head with their incredible discounts that are sure to get consumers flocking to their stores.

Best Buy will begin its Thanksgiving Sale at 5 p.m. on Thanksgiving Day, while Target's discounts will begin at 6 p.m. The following morning, Target will open its doors earlier at 6 a.m. while Best Buy will start its Black Friday sale at 8 a.m.

In what may prove to be the best deal of the entire Black Friday discount catalogue, Best Buy is offering a Sharp 50-inch LED Smart 4K television for only $179.99. The television has an Ultra HD resolution of 2160p, and will save buyers a whopping $320.

Target, on the other hand, offers even more discounts for holders of its REDCard. There will be a five percent markdown for every purchase made using the membership card, including purchases made during Black Friday and Cyber Monday. REDCard holders will also get early access to Black Friday deals on the retailer's website as early as Nov. 22.

Both Best Buy is also giving a $300 discount on the Samsung Galaxy Note 8, S8, or S8 Plus. Target has a similar offering, but its $300 discount comes in the form of a Target gift card.

The iPhone 8 and 8 Plus also have a promotion. Target is giving a $250 Target gift card for buyers of the iPhone 8 or 8 Plus. Best Buy, on the other hand, offers $200 in savings.

Many sought after items can be found on both stores with the same markdowns. Both stores are selling the GoPro Hero 5 Black 4K for $349.99 with a free $50 gift card. The Xbox One S 500 GB console can be bought from either stores for $189.99. Sony's PlayStation 4 1 TB Console Black is available at both retailers for $199.99.