Walmart, Aldi drop prices ahead of Thanksgiving
Discounts apply to the holiday meal stalwarts of potatoes, green beans, pie, butter and flour
Two major retailers started dropping prices this week on traditional Thanksgiving feast items.
Food inflation remains high, with some relief ahead for shoppers, according to a Wells Fargo report.
“Despite food-at-home inflation slowing to 2.4% since last October, this year’s celebration will not be less expensive,” the report said.
Meat, including turkey and ham, are up 9% and %5, respectively. Canned cranberries, the love ’em or hate ’em side dish, are also more expensive this year, rising 60%.
If you thought potatoes were expensive, you were not wrong. Prices for the russet variety are at an all-time high, rising 14% in a year, Wells Fargo said.
Consumer spending has pared in recent weeks as shoppers skip big-ticket items.
Shoppers think long and hard before buying a motorized vehicle or washing machine, and they are increasingly reconsidering them.
That’s a bad sign for a economy, which has been kept afloat and out of recession by the willingness of Americans to keep spending despite high inflation and interest rates.
To counter some of the high costs Americans are facing, Walmart and Aldi are offering price breaks through the holidays.
Walmart
For the second year, Walmart said it will lower the prices on traditional Thanksgiving dinner staples, including turkey.
The retailer said it’s “again removing inflation to offer a traditional Thanksgiving meal on customers’ favorite brands at an even lower price than last year ...”
Last year, Walmart said that “in the face of record-breaking inflation,” it would offer a traditional feast at prices from 2021.
This year, more lower prices will be available on favorites, fixings and national brands including turkey for under $1 a pound and ham.
The savings, Walmart said, will be valid through Dec. 26.
“Saving money remains a top priority for our customers, and this holiday season, we’re building on the investments we made last year knowing they need it now more than ever,” said John Furner, president and CEO, Walmart U.S.
Walmart said it also has “aggressively expanded its assortment of holiday gifts with more items, more exciting new brands and more Walmart exclusives.” That includes, the retailer said, more than 1,000 new things and more than 500 products exclusive to Walmart.
Aldi
Aldi began its price-drop campaign this week, cutting some costs for consumers by 50% on more than 70 “holiday classics.”
The store said the discount will continue through the end of the year on seasonal favorites including gravy, potatoes, green beans, cranberries and pumpkin pie, as well as staples such as butter and flour.
According to Aldi, the price savings equate to being able to have three more guests for holiday dinner “for the same price as a meal for 10 people featuring the most popular holiday dishes.”
“Thanksgiving is all about gratitude, and we’re so grateful for our many loyal customers from coast-to-coast,” said Dave Rinaldo, president of Aldi.
“With inflation still looming, we’re providing shoppers extra relief to make the holidays a time for celebration, not stress. What’s served on the Thanksgiving table is just as important as who’s sitting around it, so Aldi is delivering big savings on key items so there’s always room for more guests.”