SUMMARY

As Turkey Day draws near, inflation remains a top concern, with data for week ending November 6 revealing 19% of all consumers and 30% of Gen Z and younger millennial shoppers worried about being able to afford their typical meal. IRI’s latest data indicates that traditional Thanksgiving basket items will cost 14.2% more than a year ago, led by inflation of sides, which are up 18.1%.

The final weekly edition of IRI’s 2023 Thanksgiving Tracker takes a deep dive into how American consumers are shopping for, preparing, celebrating and affording their Thanksgiving get-togethers in this inflationary year.

HIGHLIGHTS

1. A third of core Thanksgiving Day home-prepared entrées are completely homemade, leaving plenty of room for shortcuts and premade dishes.

2. More than 18% of Thanksgiving meals last year were sourced from a restaurant. Of those, nearly 77% were eaten off-premises.

3. This year, 62% of those surveyed plan to eat the big meal at home, 22% at a family member’s home, 5% at a restaurant and 3% at a friend’s place.

4. As the holiday nears, roughly half of shoppers say they are still finding fewer deals (54%) and shallower discounts (49%) compared to prior years.

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