Pizza is expected to be a popular alternative to turkey as Thanksgiving dinners this year, as hosts face inflated prices for traditional staples. According to a survey conducted by online financial adviser Personal Capital, 33% of people celebrating “Friendsgiving” (a popular casual Thanksgiving party for friends mostly among Millennials and Gen Z) said they would serve pizza; 24% said they planned to serve turkey. Holiday-related financial anxiety is common among younger Americans, with 54% of Gen Z respondents and 51% of millennials saying they felt stressed about covering Thanksgiving costs, while just 33% of Gen X-ers and 39% of Baby Boomers reported feeling financial stress.
Other ways Gen Z-ers are planning to save this Thanksgiving is by keeping the gathering small, making fewer dishes, asking guests to bring some dishes or items and asking people to pitch in moneywise. Per the study, they were the most likely to use all four strategies to keep costs down, while baby boomers were the least likely to ask guests to provide food, drinks or money. Of the items most frequently asked of guests to bring to dinner, 75% asked to bring alcoholic beverages or BYOB, with 46% of the requests going to desserts and 37% going to sides. Per the survey, the cost of groceries surged 12.4% in October compared to October 2021. Meanwhile, the price of turkeys has surged nearly 75% this year as a severe outbreak of avian flu devastates domestic production, according to USDA data. Other key items such as potatoes, butter and bread are also much more expensive than they were last year.
Inflation will likely result in an even higher cost of Thanksgiving dinner this year than last year’s record figure. The average cost of a Thanksgiving dinner for 10 was $53.31 — the highest ever recorded, according to the American Farm Bureau. Now, 57% of Americans think they’ll be spending between $101-200. Gen X-ers were most likely to keep a tight budget of $100 or less and baby boomers were most likely to break the bank with a budget of $201 or more. 1 in 4 Americans plan to skip the holiday altogether this year due to inflated prices, with 33% of that number going to Gen Z-ers.
No matter what, some Thanksgiving dinners won’t be complete without a few core items. See below the top 12 dishes people would never cut from the menu: