Thanksgiving on a Budget: Americans Rethink the Turkey Tradition
Will Thanksgiving strain consumers’ budgets more this year? The answer varies depending on what ends up on the table. New research from Empower shows that 57% of Americans feel they are being “priced out” of their own kitchens because groceries have become too expensive to prepare a holiday meal at home. Nearly half (47%) say they are replacing turkey with more affordable options; 38% plan to serve chicken instead, and about one-third expect to serve burgers, pizza, or fast food to manage costs.
According to Empower’s calculations, a classic Thanksgiving dinner for 10 people costs $73.09. However, that total may shift depending on the grocery store, recipe selection, and the number of guests.
Price changes since last year
U.S. Bureau of Labor Statistics data indicates that the Consumer Price Index (CPI) for “food at home” rose 2.7% from September 2024 to September 2025.
Some ingredients have climbed noticeably. Potatoes saw the greatest increase, rising 3.7% year-over-year. Turkey prices are up 0.6%, and chicken prices have edged up just 0.1%, making chicken a potentially cheaper protein for consumers who are considering swapping out the traditional bird.
There are also a few budget-friendly bright spots: September CPI data shows slight month-over-month decreases in the cost of spices (0.4%), ready-made pies (0.2%), and rolls (0.1%), though these are still higher than they were a year earlier.² Apple prices dropped 1.8% from August to September, although the cost of baking a homemade pie still varies by apple variety. The popular Honeycrisp remains on the higher end at $2.16 per pound, thanks to its reputation as flavorful yet demanding to grow.
Counting up the holiday essentials
Empower reports that a typical Thanksgiving meal for a group of 10 can total $73.09.⁵ But consumers expect to spend considerably more: Americans estimate an average cost of $137. Younger shoppers are budgeting the most — Gen Z at $176 and Millennials at $169 — while Gen X and Boomers expect to spend closer to $135 and $90, respectively.
Breakdown of the estimated holiday meal:
- 16-pound turkey: $31.68 ($1.98/lb)
- 12-oz bag stuffing mix: $2.68
- 2 frozen pie crusts: $2.68
- 1 pint whipping cream: $2.96
- 1 dozen rolls: $1.38
- 30-oz pumpkin pie mix: $3.98
- 3 lbs Granny Smith apples: $3.97
- 20-oz sugar: $2.12
- 1 gallon whole milk: $3.27
- 3 lbs sweet potatoes: $3.46
- Two 12-oz bags green beans: $4.94
- 12-oz fresh cranberries: $1.42
- 1 lb butter: $3.67
- Five 7.25-oz boxes mac and cheese: $4.88
Total: $73.09 (before tax)
Turkey alternatives on the rise
Wholesale turkey prices are currently about 40% higher than a year ago, averaging $1.32 per pound.⁶ Still, some retailers are offering frozen turkeys for as low as $0.84 per pound due to seasonal markdowns and promotional pricing.⁷
But turkey is not a must-have for everyone. Empower’s research shows that 15% of consumers are opting for different, more affordable meats or alternative proteins altogether, and 1 in 10 say they’ll skip a main protein entirely and focus on side dishes instead.
How shoppers are saving
Many households are finding creative ways to cut back. Nearly 23% say they’ll make fewer desserts, 22% are reducing portion sizes, and 16% plan to choose store-brand items instead of name brands. Retailers are taking note and offering budget-friendly meal bundles.
Walmart has introduced a “one-click Thanksgiving meal basket” priced under $40 and designed to feed 10, featuring a Butterball turkey and a mix of national and store-brand items.⁸ The retailer will also offer gluten-free and high-protein versions based on shopper feedback. Aldi has also reduced the cost of its Thanksgiving meal bundle for 10, pricing it at $40, down from $47 in 2024.
For those looking to switch up the traditional spread, Popeye’s is offering a fully cooked, frozen Cajun-style turkey for $54.99, with optional homestyle mac and cheese, mashed potatoes with Cajun gravy, and buttermilk biscuits available at additional cost.
