Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Thanksgiving Kicks Off an Estimated $586 Billion Holiday Shopping Season

By

Plus, the price of Thanksgiving dinner stays relatively flat.

PrintPRINT
Amazon has been running what it calls the Black Friday Deal Week, which offers "lightning" deals throughout the days leading up to and through Thanksgiving. And if avoiding crazed crowds isn't enough of a reason to stay out of the malls and shop online, then Amazon's price advantage certainly should be. In a Bloomberg analysis of 125 randomly chosen toys, Amazon had the better deals, with 44% of the items cheaper than at Wal-Mart. Wal-Mart had a price advantage on 13% of the items, while the remaining toys cost the same between the two. Wal-Mart was, however, winner over other in-store retailers, with 80% of these toys costing less than at Kmart, Target, and even Toys R Us.

Interestingly, the amount individual consumers will spend on the holiday season this year will remain relatively flat when compared to last year. The National Retail Federation reports that holiday shoppers will spend on average $749.51 on the season this year, up merely $9 from 2011.

The NRF projects that holiday spending will increase over 4.1% to $586.1 billion, higher than the 10-year-average growth of 3.5%, but below 2011's actual spending, which grew 5.6% from the previous year. If these projections are correct, holiday spending growth has contracted, albeit slightly.

Thanksgiving Dinner as an Economic Indicator

The US Farm Bureau has released an annual informal price survey of a Thanksgiving Day dinner for the past 27 years. This year, a 10-person meal including a 16-pound turkey and all the fixings will cost, on average, $49.48. It's a nominal, less-than-1% bump from the cost of last year's meal -- $49.20 -- as reported by the the US Farm Bureau's news page The Voice of Agriculture.



Although there were price hikes affecting turkey, coffee, onions, eggs, sugar, flour, evaporated milk, and butter, these were offset by falling prices for whipping cream, cubed bread stuffing, sweet potatoes, whole milk, fresh cranberries, green peas, pumpkin pie mix, and pie shells.

This year's increase is a far-cry from the 13%, or $5.73, jump seen from 2010 to 2011, the largest recorded increase in the cost of Thanksgiving dinner since 1986.

It seems that this year, Thanksgiving dinner is inflation proof.

Twitter: @brokawbrokaw
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.
PrintPRINT

Busy? Subscribe to our free newsletter!

Submit
 

WHAT'S POPULAR IN THE VILLE