FOX Business’ Gerri Willis says it’s ‘the most wonderful time of year’ at stores nationwide at ‘Varney & Co.’
U.S. wholesalers compete with each other, offering similarly discounted Thanksgiving food baskets to lure cost-conscious customers burdened by high prices.
Although overall inflation has fallen significantly, moving closer to the 2% target set by the Federal Reserve, prices of some foodstuffs remain up double digits.
Primerica’s latest Financial Security Monitor survey surveyed households earning between $30,000 and $130,000 per year and found that 40% of respondents cited inflation as their top worry.
HOLIDAY SPENDING IS PROJECTED TO REACH A NEW RECORD THIS YEAR
As a result, in recent weeks, Aldi, Walmart, and Sam’s Club have announced that they are offering discounted Thanksgiving baskets, continuing a trend we saw heading into last year’s holiday season.
Aldi
Aldi announced this week that it is offering the cheapest Thanksgiving baskets in five years. The basket includes a full meal for 10 people for under $47.
Exterior view of a sign at a branch of budget supermarket Aldi in Bristol, UK. (Matt Cardy/Getty Images/Getty Images)
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The company says the meal equates to less than $4.70 per person and includes Butterball turkey with herbs, gravy, rolls, mac and cheese, stuffing as well as ingredients for cranberry sauce, mashed potatoes, sweet potato casserole, green bean casserole , and pumpkin. pie.
Aldi said the deal comes as “consumer demand drives the retailer’s continued growth.” The company plans to open 800 stores over the next five years.
Walmart
| Heart | Security | Final | Change | Change % |
|---|---|---|---|---|
| WMT | WALMART INC. | 81.31 | +0.42 |
+0.52% |
Walmart on Thursday also announced that it is offering so-called “inflation-free Thanksgiving meals.”
The Arkansas-based retailer said the meal prices are “lower than last year,” costing about $7 per person.
The meal serves eight people and features 29 items, including turkey for $0.88 cents per pound. Other items include sweet Hawaiian rolls, corn, cranberry sauce, dip mix, mushroom soup, corn mix, and pecan pie.
Meals will be available through December 24.
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Sam’s Club
Sam’s Club CEO Chris Nicholas previously told FOX Business that the company, which is owned by Walmart, is offering a complete Thanksgiving dinner for 10 people for under $100. This includes the turkey, trimmings and dessert, Nicholas said.
A shopper stockpiles merchandise at a Sam’s Club store in Streamwood, Illinois, on January 12, 2018. (Scott Olson/Getty Images/Getty Images)
National Retail Federation Chief Economist Jack Kleinhenz reported Thursday that “there are some signs of consumer spending tightening,” although September retail sales data underscored that consumers are still “willing to shop according to the value they see.”
FOX Business’ Eric Revell contributed to this report.
