VIRGINIA BEACH, Va. — It is that time of year again where people are decorating their home with Fall décor and getting ready for Thanksgiving.
If you have not done your Thanksgiving food shopping, I want to run through the cost of popular products so you know how much you may be spending this year.
According to the Wells Fargo Agri-Food Institute, a party of 10 could save about $17 this year.
As we were talking to shoppers, we met Reverend Al Smith, who is expecting a big crowd.
“[We’ve got] four children, 13 grandchildren and we're doing the cooking. We're hosting this year,” he says.
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Hosting can mean more mouths to feed and more money to shell out. While that can feel overwhelming, especially as prices have been so high, Brian Vines with Consumer Reports says not all financial hope is lost.
“One of the good things is that prices have seemed to stabilize, even when it comes to food,” says Vines.
According to Wells Fargo's annual agri-food report, a meal for 10 people made up of name brand turkey, stuffing, salad, cranberries, dinner rolls and pumpkin pie will cost $90 this year. That cost is down about half a percent from 2023.
The same meal using store brands is up more than two and a half percent from last year, but will still cost less than name brand at $73.
“In some cases, these products are actually made in the same facilities as some of those national name brands,” says Vines.
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He suggests planning so you can be thoughtful about what products are worth buying.
"You really have to be diligent about deciding which store brands you want to go for, and which are the products that you just have to have because that was grandma's recipe,” he laughs.
Other ways to save:
- Opt for pick-up or delivery so you're not tempted to add more to the cart
- Sign up for store loyalty programs
- Use savings app
- When you see something on sale — buy it, even if it ends up in the freezer.
“Make use of the season to really stock up on the things that can carry you through the rest of the year,” Vines says.
Smith says he's leaning into anything that can help.
“Every little bit helps — and the more we can save, the more money we have to give to other people. There's so many people that don't even have anything at all, so what a way to maybe lift them,” he says.
For the turkey lovers, consumer experts say a 15-pound turkey will cost around $30.
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If money is too strapped to even consider a big meal this year, there are several organizations that are giving away free Thanksgiving meals:
Thanksgiving "meal deals" are available at these big retailers:
- Aldi serving 10 people for $47
- Target serving meal for four under $20
- Walmart featuring 29 items that serve eight people for less than $7 a person
- Sam’s Club serving 10 people for $100
- Costco serving eight people for $179
