Uncover the Secrets to Saving on Holiday Meals
Store Brands: The Hidden Gem for Saving
Thanksgiving dinner ingredients are seeing a rise in prices this year compared to last, even as food inflation shows signs of cooling. However, one simple yet effective way to save money is by opting for store brands. Buying store-brand items instead of national brand products has been a tried-and-true method for decades. While there are cases where store-brand goods may cost more than their name-brand counterparts, overall, they can lead to significant savings. According to new research from Wells Fargo, store-brand items can help consumers keep more money in their pockets without skimping on the staple dishes that make the holiday special. For example, a store-brand Thanksgiving menu for 10 people, including turkey, stuffing, salad, cranberries, dinner rolls, and pumpkin pie, will cost consumers $73. The same menu made with name-brand products will set you back $90, a difference of $17. This year, the price of the store-brand menu has increased by 2.7% from last year, but it still offers great value.
Store brands are often seen as an alternative to national brands, but they offer the same quality and product at a lower price. Brands spend a lot of money on marketing to convince consumers to choose their products, while stores focus on providing value to the customers. By choosing store brands, you can enjoy the same delicious flavors without the added marketing cost. It's a win-win situation for both consumers and stores.
Watch Out for Deals and Promotions
Grocers typically run promotions on turkeys around Thanksgiving as it is a seasonal purchase. The two-week window before the holiday is when grocers make the majority of their whole turkey sales. However, buyers need to be cautious as some retailers may lure them into the store with a deal on turkey only to sell them other items at high prices. It's important to make a shopping list and stick to it, focusing not only on the turkey but also on the prices of other items on the list. A small oversight can lead to a significant increase in the overall cost of the holiday meal.
While store-brand stuffing mixes may still be priced high, they still offer an opportunity for savings. Name-brand stuffing has seen a 9% increase compared to the same period last year, while store-brand stuffing is up only 3%. Cranberries are an outlier this season, with the name-brand product priced lower than the store-brand alternative. A 12-ounce bag of name-brand fresh cranberries is down 3% compared to 2023, while the same-size bag of store-brand cranberries is up 6%. By being aware of these price differences, you can make more informed decisions and save money on your holiday meal.
Smart Shopping Strategies for a Thrifty Holiday
Saving money on holiday meals doesn't mean sacrificing quality or enjoyment. With a little planning and smart shopping, you can have a delicious and affordable feast. One strategy is to compare prices at different stores. Not all stores offer the same prices for the same items, so it's worth taking the time to shop around. You can also look for sales and discounts online or in-store. Many stores offer coupons and promotions that can help you save even more money. Additionally, consider buying in bulk for non-perishable items such as canned goods and dry ingredients. This can help you save in the long run and have enough supplies for future holidays.
Another way to save is to plan your menu in advance and make a shopping list. This will help you avoid impulse purchases and stay focused on the items you need. You can also consider making some dishes from scratch instead of buying pre-made items. While it may take a little more time and effort, it can be a cost-effective option in the long run. By being creative and resourceful, you can create a memorable holiday meal without breaking the bank.