Major grocery chains in the United States are competing with one another by offering discounted Thanksgiving meal baskets aimed at attracting budget-conscious shoppers facing rising prices.
While overall inflation has decreased significantly, nearing the Federal Reserve’s target of 2%, certain food prices continue to soar, some by double digits.
A recent survey by Primerica’s Financial Security Monitor, which sampled households earning between $30,000 and $130,000 a year, found that 40% of participants ranked inflation as their foremost concern.
With holiday spending expected to reach new heights this year, retailers such as Aldi, Walmart, and Sam’s Club have announced similar discounted Thanksgiving offerings, mirroring trends observed leading up to last year’s festivities.
Aldi has revealed its most affordable Thanksgiving basket in five years, providing a complete meal for 10 people priced under $47. The meal, which amounts to less than $4.70 per person, features a Butterball turkey along with gravy, rolls, macaroni and cheese, stuffing, and ingredients for side dishes such as cranberry sauce, mashed potatoes, sweet potato casserole, green bean casserole, and pumpkin pie. Aldi noted this initiative is fueled by high demand among shoppers, with plans to open 800 new stores in the next five years.
Walmart has also entered the fray, announcing its “inflation-free Thanksgiving meal,” which is priced lower than the previous year at approximately $7 per person. This meal serves eight and includes 29 items such as a turkey priced at $0.88 per pound, alongside sweet Hawaiian rolls, corn, cranberry sauce, gravy mix, mushroom soup, corn mix, and a pecan pie. This offering will be available until December 24.
Sam’s Club, under Walmart’s ownership, is providing a full Thanksgiving dinner for 10 people for less than $100, which includes a turkey, accompaniments, and dessert.
According to Jack Kleinhenz, Chief Economist at the National Retail Federation, there are indications of consumers tightening their spending. However, data from September’s retail sales revealed that shoppers are still eager to spend when they perceive value.