For many Americans, Thanksgiving wouldn’t be complete without a roast turkey on the table. In 2015, the National Turkey Federation reported that 85 percent of Americans will consume 45 million turkeys on Thanksgiving Day. Last year, this equated to an expected 276 million Americans gathering to enjoy this annual feast. This year, we’ve estimated even more of us consuming turkey for Thanksgiving – a whopping 277 million.
So how much will turkeys cost us this Thanksgiving? Last year, we estimated a total of $1.05 billion was spent on turkey dinners. This year, our estimates reveal that Americans are expected to spend $1.01 billion, even though the number of turkeys being consumed is likely to increase.
This is due to the projection of cheaper turkey prices in comparison with this time last year. This estimate is based on a projection that a 16 pound turkey will cost $22.44 this Thanksgiving (forecasted using 2015 and 2016 data from the American Farm Bureau Federation).
Do we spend more on our Thanksgiving or Christmas guilty pleasures?
According to Nielsen’s Advanced Fresh Perspective data, Thanksgiving is one of the highest-selling weeks for all food and beverage categories combined in the US, second only to the week of Christmas.
Last year, the amount spent on turkey ($1.054 billion) barely came out on top of the $1.050 billion spent on seasonal sweets. This year, however, turkey sales during Thanksgiving ($1.01 billion) are expected to be just short of the amount spent on candies at Christmas time.
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