The retailer is touting its largesse, giving consumers a break from the worrisome news about the economy. Whole turkeys will be priced at under $1 per pound. Other key Thanksgiving staples such as pecans, have been marked down from $6.54 to $4.32.
The Federal Reserve this week raised interest rates 0.75% with the idea of curbing spending, investment and borrowing to blunt additional price increases. This is the sixth consecutive rate increase this year.
“The last few years brought new challenges to families planning their holiday meals, and this year is no different, from rising costs to concerns on supply for Thanksgiving favorites,” said John Laney, EVP food, Walmart U.S. “Despite that, we know our customers still want to celebrate the season and make memories with their loved ones, so we’ve been working hard to ensure they can do just that.
“Saving money is a top priority for our customers right now, so this year, we’re removing inflation on an entire basket containing traditional Thanksgiving items,” Laney said. “We made significant investments on top of our everyday low prices so customers can get a traditional Thanksgiving meal at last year’s price at Walmart.”
The comparison is based on the average price charged for the featured items from November 1 to December 26, 2021, versus Walmart’s national or highest regional price to be charged when purchasing the entire assortment of the same items from November 1 to December 26, 2022. Prices at local Walmart stores may be lower, the company said, noting that prices will remain in effect through Dec. 26.
“We’ve been working with suppliers for months to help ensure a strong supply for all the holiday mealtime essentials at Walmart this season, especially for meal heroes like ham and turkey. And like last year, Walmart’s turkey assortment is already available in stores for those customers shopping early – including whole turkeys.
Walmart has noticed that the way customers gather during the holidays is changing. To best serve customers, the retailer is offering an expanded selection of turkey options, from traditional whole turkeys of all sizes to bone-in breasts, boneless roasts and smoked turkeys.
The easy to manage roasts should resonate with Gen Z, as the retailer looks to draw in younger consumers. These first time turkey buyers will find a selection of grab-and-go meal options, like ready-to-make sides and freshly baked desserts.
“We expect that more Gen Z customers will be first-time turkey buyers this year, and our Gen Z customers like having easy, convenient meal options,” Laney said.