Target has introduced a Thanksgiving meal option that will cost $20 per person, which is $5 less than last year. The meal includes turkey, potatoes, stuffing, gravy, cranberry sauce, green beans, and mushroom soup. The turkey is priced at $0.79 a pound, 20% lower than the previous year. Target’s Circle 360 members will also receive a free pizza. In addition to the meal, Target is offering side dishes and desserts like mac and cheese and pies for under $5.
Other retailers like Walmart and Aldi have also announced more affordable Thanksgiving meal options. Walmart’s 29-item meal serving eight people costs less than $7 per person, while Aldi’s 10-person meal is priced under $47. Overall, consumer price inflation has slowed down to 1.6%, with food prices rising by just 0.5%. However, lower-income consumers are still struggling with overall price increases, with retail spending declining for those earning less than $60,000 per year. Before the pandemic, spending rates were similar across income groups.
The move by retailers to offer more affordable Thanksgiving meals comes amid ongoing concerns about inflation and its impact on consumer spending. Target’s initiative, along with similar efforts by Walmart and Aldi, aims to provide more budget-friendly options for consumers during the holiday season.
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