Target, along with other big-box retailers, has announced a Thanksgiving meal deal that is cheaper than in previous years. The traditional Thanksgiving feast offered by Target costs $20 per person, which is $5 less than last year. The meal includes turkey, potatoes, stuffing, gravy, cranberry sauce, green beans, and mushroom soup, serving four people. Target Circle 360 members will receive a free pizza as well. Additionally, side dishes and desserts like mac and cheese and pies are available for under $5.
Walmart and Aldi have also introduced lower-cost Thanksgiving meals. Walmart’s “inflation-free Thanksgiving meal” includes 29 items serving eight people for less than $7 per person. Aldi’s 10-person Thanksgiving meal is priced under $47, lower than the cost in 2019. In 2024, consumer price inflation is at a low of 1.6%, with food prices climbing just 0.5% on the year. Despite this, many consumers, especially those with lower incomes, still struggle with rising prices since the pandemic. A Federal Reserve study found that lower-income earners have seen a decline in retail spending since 2021, in contrast to higher earners.
Overall, retailers are responding to consumer needs by offering more affordable Thanksgiving meal options in light of the economic challenges faced by many during the pandemic.
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