Thanksgiving shoppers will see lower prices

On November 25, 2024By Pranco

JONESBORO, Ark. (KAIT) – Thanksgiving shopping is underway and this year shoppers could save some dollars at the checkout.

The US Farm Bureau released it its annual Thanksgiving Dinner Survey on Wednesday, November 20.

The research found that shoppers will spend around €58.18 for a family of ten, a decrease of 5% from 2023, when shoppers paid an average of €61.17.

Michael Pakko, chief economist for the Arkansas Economic Development Institute, said that while food costs have risen, the decline in spending can be attributed to one factor.

“When it comes to Thanksgiving, of course you have to talk about turkey, and turkey prices are actually the driving force behind changes in Thanksgiving prices from year to year,” he said.

With turkey prices dropping, could your bill at checkout drop too?

K8 News went to Bill’s Fresh Market in Jonesboro to find out.

Reporter Alejandra Hernandez used the AFB survey and compared prices between 2023 and 2024 to see if people are saving or spending more.

Shoppers will have to decide whether to buy from a store or a brand.

Pakko said that while the store brand remains the cheaper option, now would be the time to consider the name brand.

“The branded items may have gotten a little bit above their price point, so those prices are coming down a little bit,” he said. “The prices of private label or generic drugs are going up, so you know, if the difference in quality is important to you, it may be a little cheaper to substitute the name brand for the generic.”

Another thing to consider is processed foods. They may be the easier option, but they can also cost you more.

“The processed food like pre-paid sandwiches, the croutons for the filling. Those things are more affected by labor and transportation costs, which are still rising, and so have been subject to a little more inflation than some of the more basic commodities,” Pakko said.

After Hernandez zigzagged his way through the store, it was time to head to the checkout.

The total came to $52.43, about $5 less than the American Farm Bureau average.

Shopper Shanece Jones said she had about the same stuff as last year and is feeding about eight people.

“Last year I probably spent $50 more on my ham, this year $50, $60 more than last year. I will say I bought a little more this year, maybe just a little bit of meat to cook,” she said.

Jones’ Thanksgiving will include some ribs and macaroni and cheese, and some of those ingredients have increased her bill.

“Last year I spent maybe about $15 more than I normally spend just because the price of milk and everything is more expensive,” she said.

If you’re shopping for your Thanksgiving dinner this week, consider a smaller turkey, stick to store-brand items and make your own stuffing. If you do, you’ll probably have a few extra dollars for Black Friday.

Would you like to report a typo or correction? click here.