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Stores prepare for Thanksgiving: Who will join in cutting prices?

Aldi recently said it would implement major discounts by November, and keep those sales in place through the end of 2023. Who else will join?
Stores prepare for Thanksgiving: Who will join in cutting prices?
Posted at 10:17 PM, Oct 20, 2023

The holiday season is approaching quickly, and Thanksgiving will be one of the first major celebrations of the season. With grocery prices at inflated levels compared to previous years, shoppers will focus on prices as they try to feed family and friends. 

Affordable grocery retailer Aldi said it plans to cut prices significantly for those looking for staples and treats for the holiday table. 

This week the German grocery chain, which boasts some 2,336 locations around the United States, said, "Starting Nov. 1, and lasting throughout the entire holiday season, customers will see price reductions of up to 50% on items across the store."

It will be a welcome financial relief for many across the country as grocery prices continue to remain at elevated levels. 

The U.S. Department of Agriculture's Economic Research Service said in a September Consumer Price Index report that the price of grocery store or supermarket food purchases increased by 0.1% from July to August this year. Prices were 3% higher than in August of last year. 

Families around the country have faced even higher hikes in the cost of outings to restaurants, which cut into household budgets. The USDA said restaurant prices saw a 6.5% hike this year compared to August of last year. 

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Last year, the American Farm Bureau Federation estimated that a typical holiday meal for 10 would cost nearly $70, setting a record. It was around a 20% increase from 2021. 

Annette Economides, of the website Money Smart Family, told Consumer Reports, "Thanksgiving is actually one of the most economical meals you can host."

Experts say shoppers should pay close attention to turkey promotions this time of year. Also, families should keep meals simple and focus on main dishes and sides instead of a lot of various appetizers. 

Also, don't skip the frozen vegetables, as they might offer some cost savings. 

Consumer Reports says to download store apps, where shoppers might find more deals and coupons — and use a cashback credit card to get cash credits for your food purchases. 

If you're in a hurry and don't have time to get out to shop, Supermarket News reported that Amazon could be planning to drop the grocery price threshold for free delivery for Prime members from $150 to $100. 

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