Aldi offers Thanksgiving meal for 10 people for less than $50

Aldi is unveiling its lowest-priced Thanksgiving spread in five years, with the discount grocery chain possibly taking a page from the recent playbook of fast-food chains offering $5 value meals to entice price-sensitive Americans.

Aldi on Wednesday announced its "inflation-busting holiday meal" for 10 at a cost of $47.00, or $4.70 a person. Aldi's Turkey Day fare runs about two bucks less than an offer by its bigger rival, Walmart. 

U.S. inflation in September hit its lowest point since February 2021, reflecting lower gas prices and a small rise in food costs, prompting one analyst to declare inflation to be "dying, but not dead." 

Many consumers have responded to higher food prices by shifting from brand-name items to private label, a trend in Aldi's favor given that more than 90% of the products it sells are its own private labels. 

Aldi's Thanksgiving meal follows a traditional menu and includes a Butterball turkey with spices, gravy, rolls, macaroni and cheese, stuffing and ingredients for cranberry sauce, mashed potatoes, sweet potato casserole, green bean casserole and pumpkin pie.  

"With 25% of U.S. households now shopping Aldi, we know grocery prices are still top of mind," Jason Hart, Aldi's CEO, said Wednesday in a press release.

The prices cited by Aldi assumes a 16-pound turkey and availability depends on store location. 

Based in Germany, Aldi operates 2,300 stores across the U.S. and plans to add another 800 locations by the end of 2028.

In 2023, a 16-pound frozen turkey averaged $27.35 and accounted for 45% of the cost of a Thanksgiving feast for 10, which cost $61.17, or about $6.12 a person, according to an annual survey by American Farm Bureau Federation. The group is expected to release its 2024 findings next month.