Wholesale turkey prices are up 40% this year, according to the American Farm Bureau Federation, but retailers are fighting back with aggressive Thanksgiving meal deals to help shoppers stretch their holiday budgets.
"I'm watching my pennies. When you are on a fixed income, you've got to watch your pennies," said shopper Pam Stewart, who was stocking up on Thanksgiving fixings at Walmart.
The retail giant recently rolled out its Thanksgiving meal deal featuring Butterball frozen turkeys for just 97 cents per pound.
The retailer's package includes enough fixings to feed 10 people for under $40 — less than $4 per person.
"Our pricing has gone down on our Thanksgiving meal package from last year," said Walmart's Jayna Hill.
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She said the full meal bundle includes a turkey, Stove Top stuffing, pumpkin pie ingredients, potatoes and other essentials.
"Of course you need cream of mushroom soup for your casseroles," Hill added. So the kit even includes that.
Watch: Walmart shows off their $4 person meal deal:
Competing Thanksgiving deals
Discount chain Aldi is promoting a similar deal, claiming its Thanksgiving bundle with a 14-pound turkey and nine sides also feeds 10 people for $40.
Kristin McGrath, a senior editor with The Krazy Coupon Lady, said these deals are worth considering, but shoppers should understand their limitations. They do not take extra desserts or your grandmother’s secret recipes into account.
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"If you want to go off script a bit, you're going to be adding to your costs because those bundles really are designed around specific ingredients," McGrath said.
Other retailers are offering early Thanksgiving savings as well:
- Kroger is promoting whole frozen turkeys for 99 cents per pound. A 10 to 14 pound turkey is just under $12.
- Costco offers a gourmet feast serving eight people for about $25 per head.
- Publix sells a heat-and-serve option. Hosts can feed about 15 people for $139.99.
- BJ's promotes free turkeys when members spend $150 in a single visit Nov. 1 through Nov. 10. After clipping a digital coupon, members get a free turkey Nov. 15 through Nov. 26.
Many regional supermarkets also offer free turkeys as incentives, but McGrath warns against overspending just to claim a deal.
"If you're spending extra to get that free turkey, which again, you can get for under a dollar a pound, it's not going to be worth it to you," she said.
How can turkeys be free if prices are up?
The American Farm Bureau Federation says on its website that economic factors and "disease challenges" have driven wholesale turkey prices up.
The bureau does not foresee challenges related to supply, however, and expects retailers to offer discounts.
McGrath said turkeys are known as a "loss leader" in the industry, knowing it’s the product that gets customers in the door.
"Retailers are maybe willing to absorb some of that cost increase knowing that someone's going to come in and buy all the ingredients for their Thanksgiving meal," she said.
With higher food costs this year, store specials offer families a way to maintain their Thanksgiving traditions without breaking their budgets.
"It's really good for people that really need it, feeding a big family," said shopper Shaina Kamen.
Much needed relief, so you don’t waste your money.
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