How Much Does America Spend on Thanksgiving?
Thanksgiving, a holiday celebrated on the fourth Thursday of November in the United States, is a time for families and friends to gather and give thanks for the blessings they have received throughout the year. As a result, it has become a time for extravagant feasts and shopping sprees. But just how much does America spend on Thanksgiving? The answer may surprise you.
According to the National Retail Federation (NRF), Americans are expected to spend an average of $492.12 on Thanksgiving Day and the subsequent Black Friday shopping weekend. This total includes spending on food, decorations, and gifts. The NRF also predicts that a record-breaking 249 million people will take part in Black Friday shopping this year, which is a 10% increase from last year.
The majority of the spending goes towards food. According to the American Farm Bureau Federation, the average Thanksgiving dinner for 10 people costs about $49.12, which is up 1.5% from last year. This cost includes turkey, stuffing, cranberry sauce, mashed potatoes, and more. The rising costs of ingredients, such as turkey and butter, have contributed to the increase in the price of the average Thanksgiving dinner.
In addition to food, Americans also spend a significant amount on decorations. According to a survey by the NRF, 54% of consumers plan to purchase decorations for their Thanksgiving celebrations, with an average spend of $25.39. This includes items like tablecloths, candles, and centerpieces.
When it comes to gifts, the NRF predicts that consumers will spend an average of $102.83 on Thanksgiving gifts, with the most popular gifts being clothing ($24.24), toys ($22.14), and electronics ($20.77). This spending is in addition to the Black Friday shopping that follows Thanksgiving, which is known for its massive discounts and sales.
The total spending on Thanksgiving and the subsequent Black Friday weekend is expected to reach $57.4 billion, which is a 5% increase from last year. This spending is not only a reflection of the economic growth in the United States but also a testament to the importance of family and giving during the holiday season.
In conclusion, America’s spending on Thanksgiving is a testament to the country’s love for family, food, and giving. While the costs may seem extravagant, they are a reflection of the nation’s economic prosperity and the spirit of the holiday season.
