IRI has updated its Thanksgiving Tracker, showing the latest year-over-year inflation figures by category and examining the historical sales by category in the runup to the holiday. This year, consumers are concerned about inflation, but not worried about shopping earlier to spread out the expense.
Thanksgiving is the second-largest holiday in terms of sales uplift for food and beverage retailers, surpassed only by Christmas. Inflation will make the average Thanksgiving meal cost nearly 14 percent more this year, with various holiday staples showing varying degrees of inflation.
The report shares the latest year-over-year inflation figures by category and highlights current trends in consumer Thanksgiving shopping and some Thanksgiving dinner deals from major retailers.
Highlights from the report include:
- The Thanksgiving meal product set – including meats, side dishes, pies, baking products and beverages – experiences billions of dollars in sales uplift from the weeks leading up to Thanksgiving through December.
- Despite inflation, shoppers aren’t yet buying early to spread the cost or seeking deals associated with Thanksgiving.
- Overall, 56 percent of shoppers report that fewer items they want are on sale now, and 44 percent say that items on sale are not discounted as much as they used to be.
- Retailer deals include a Walmart promotion setting Thanksgiving basics at 2021 prices and Lidl’s and Aldi’s promotions of a Thanksgiving dinner for up to 10 people for less than $30.
To read the full report from IRI, visit iriworldwide.com/en-us/insights/publications/thanksgiving-tracker-nov-2022.
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