FOX Business’ Jerry Willis says it’s “the most wonderful time of the year” at Varney & Co. stores across the country.
Major U.S. grocers are competing by offering similar discounted Thanksgiving meal baskets to lure cost-conscious customers squeezed by high prices.
Although overall inflation has fallen significantly and is inching closer to the Federal Reserve’s 2% target, prices for some food items are still rising by double digits.
Primerica’s latest Financial Security Monitor survey surveyed households with annual incomes between $30,000 and $130,000 and found that 40% of respondents cited inflation as their top concern. did.
Holiday spending is expected to reach a new record this year
As a result, in recent weeks, Aldi, Walmart, and Sam’s Club have already announced that they will offer discounted Thanksgiving baskets, continuing a trend seen leading up to last year’s holiday season.
aldi
Aldi announced this week that it is offering its cheapest Thanksgiving hampers in five years. The basket includes meals for 10 people for less than $47.
Exterior sign of a branch of Aldi, a low-cost supermarket in Bristol, UK. (Matt Cardy/Getty Images/Getty Images)
US consumers see higher risk of debt delinquency and higher long-term inflation: New York Fed
The company says the meal will cost less than $4.70 per person and include Butterball turkey and spices, gravy, rolls, mac and cheese, stuffing, plus cranberry sauce, mashed potatoes, sweet potato casserole, green bean casserole, and pumpkin ingredients. It was advertised. pie.
Aldi said the partnership comes as “shopper demand is driving continued growth for retailers”. The company plans to open 800 stores over the next five years.
walmart
| ticker | safety | last | change | change % |
|---|---|---|---|---|
| WMT | Walmart Co., Ltd. | 81.32 | +0.42 |
+0.52% |
Walmart also announced Thursday that it will offer what it calls “inflation-free Thanksgiving meals.”
The Arkansas-based retailer said the meals will be “lower priced than last year,” costing about $7 per person.
The meal serves eight people and includes 29 items, including turkey at 0.88 cents per pound. Other menu items include sweet Hawaiian rolls, corn, cranberry sauce, gravy mix, mushroom soup, corn mix, and pecan pie.
The offer period is until December 24th.
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Sam’s Club
Sam’s Club CEO Chris Nicholas previously told FOX Business that Sam’s Club, owned by Walmart, would serve Thanksgiving dinner for 10 people for less than $100. Nicholas said this includes turkey, fillets and dessert.
Shoppers stock up on merchandise at a Sam’s Club store in Streamwood, Illinois, on January 12, 2018. (Scott Olson/Getty Images/Getty Images)
Jack Kleinhenz, chief economist at the National Retail Federation, reported Thursday that “there are signs that consumer spending is tightening,” but retail sales data for September shows that consumers still “find value where they are.” “We will actively spend on
FOX Business’ Eric Revell contributed to this report.
