FOX Business’ Gerri Willis says it’s ‘the best time of the year’ for stores across the country for ‘Varney & Co.’
Major US grocers are going head-to-head, offering similarly discounted Thanksgiving food baskets to attract cost-conscious customers squeezed by higher prices.
While overall inflation has slowed significantly, closer to the Federal Reserve’s target of 2%, prices of certain food items remain up by double digits.
A recent Financial Security Monitor survey by Primerica surveyed households making between $30,000 and $130,000 a year and found that 40% of respondents cited inflation as their top concern.
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As a result, in recent weeks, Aldi, Walmart and Sam’s Club have already announced that they are offering discounted Thanksgiving baskets, continuing the trend we saw leading up to last year’s holiday season.
Aldi
Aldi announced this week that it is offering its cheapest Thanksgiving basket in five years. The basket includes a full meal for 10 people for less than $47.
Exterior view of signage at a branch of budget supermarket Aldi in Bristol, England. (Photos by Matt Cardy/Getty Images)
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The company said the meal costs less than $4.70 per person and includes Butterball turkey with spices, gravy, rolls, mac and cheese, stuffing and cranberry sauce toppings, mashed potatoes, sweet potato casserole, green bean and pumpkin casserole. pie.
Aldi said the deal comes as “consumer demand is fueling the retailer’s continued growth.” The company plans to open 800 stores in the next five years.
Walmart
| A ticker | Security | Finally | Change | Change % |
|---|---|---|---|---|
| WMT | Company WALMART INC. | 81.23 | +0.34 |
+0.41% |
Walmart on Thursday also announced that it is offering what it calls a “free Thanksgiving meal.”
The Arkansas-based retailer said the meals are “lower priced than last year,” costing about $7 per person.
This meal serves eight people and includes 29 items, including turkey that costs $0.88 cents a pound. Other items include sweet Hawaiian rolls, corn, cranberry sauce, gravy mix, mushroom soup, corn mix and pecan pie.
Food will be available until Dec. 24.
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Sam’s team
Sam’s Club CEO Chris Nicholas previously told FOX Business that the company, which is owned by Walmart, is offering a full Thanksgiving dinner for 10 people for less than $100. This includes turkey, trimmings and pudding, Nicholas said.
A customer receives merchandise at a Sam’s Club store in Streamwood, Illinois, on Jan. 12, 2018. (Photos by Scott Olson/Getty Images)
The National Retail Federation’s Chief Economist, Jack Kleinhenz, reported Thursday that “there have been signs of strengthening in consumer spending,” although September retail sales data underscored that consumers are “still willing to spend when they see value.”
Eric Revell of FOX Business contributed to this report.
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