Thanksgiving dinner is cheaper this year

Stores are increasingly trying to lure in inflation-weary customers this holiday season. In a bid to attract shoppers, Target announced yesterday its most affordable Thanksgiving meal deal yet, which is priced at $20 ($5 less than last year).

The meal bundle for four includes a 10-pound frozen turkey, potatoes, canned green beans, cream of mushroom soup, boxed stuffing, and gravy.

Target has already cut prices of roughly 8,000 items this year. Grocery inflation has moderated over the past year and stood at 1.3% in September, which is below overall inflation, according to Bureau of Labor Statistics data.

Not just Target
Other retailers, including Aldi and Walmart, are also trying to win back shoppers by lowering prices for their Thanksgiving meals.

Walmart is offering meals for 24 for $98, which is less expensive this year than the last. Sam’s Club recently introduced a pre-cooked feast for up to 10 people for under $100, and Aldi’s 10-person meal costs $47, its lowest in five years.

Target’s decision to slash prices on items this year has helped its bottom line. The retailer expects that consumers will continue to bargain shop and that sales will rise by up to 2% this year, but it also warned that this may not be likely.