Seventy-nine percent of consumers in the US plan to celebrate a traditional Thanksgiving with 61% hoping to eat their main meal at home, a new report has revealed.
The annual Thanksgiving Outlook from Circana also unveiled that 34% of consumers anticipate spending more on groceries this year but are unlikely to cut back on their purchases.
Moreover, 38% of respondents plan to take advantage of early deals, with households that include young children being the most proactive in seeking savings.
The average number of guests at Thanksgiving gatherings planned by Gen Z and young millennial consumers is expected to be 10.6, exceeding the smaller group sizes of older generations.
'A Unique Opportunity'
Joan Driggs, vice president of content and thought leadership at Circana, stated, “Thanksgiving offers a unique opportunity for manufacturers and retailers to connect with consumers who are navigating high prices while still prioritising cherished traditions.”
“By focusing on solutions that blend convenience, value, and creativity, businesses can help shoppers celebrate in meaningful ways—whether through promotions on staple items, inspiration for new traditions, or offerings that make hosting and gifting easier.”
In 2023, Thanksgiving boosted sales by $2.4 billion and is one of the biggest food holidays of the year, second to Christmas, Circana added.
Continuing Trends
Circana believes that several trends from 2023 are to continue this year, including 82% of the total sales for the Thanksgiving season taking place in the week of Thanksgiving and the week prior.
In 2023, the Thanksgiving basket drove sales despite representing only 9% of total sales for those weeks.
The percentage of products sold on promotion for last year’s Thanksgiving basket almost doubled to 50%, but the average depth of discount was similar to the rest of the year, Circana added.
Thanksgiving will also involve items sourced from a restaurant or foodservice establishment. Last year, this figure was 8%.
