Thanksgiving turkeys to raise $1.05bn in US
Finder.com said the National Turkey Federation estimated that 45 million turkeys were consumed on Thanksgiving Day alone, with 85% of the US partaking in the meal. That represents more than 276 million Americans dining on the festive poultry, according to calculations.
The calculation of total spend was based on a 16-pound turkey being priced at $23.44 this month, building on the past five years of data from the American Farm Bureau Federation.
Thanksgiving turkey facts:
• 77% of whole turkeys sold throughout the year – nearly 400 million pounds in weight – are sold during the month of November, according to Nielsen
• President Abraham Lincoln proclaimed Thanksgiving a national holiday in 1863
• The White House tradition of “pardoning” a turkey has been traced to President Lincoln in 1863
• A baby turkey is called a Poult
• June is National Turkey Lovers’ month
• Minnesota produces the most turkey out of all the US states
• Turkey is healthier than any other protein source, according to the National Turkey Federation. A three-ounce serving of cooked skinless turkey has fewer calories from fat, has no saturated fat and 8% more protein than chicken
While stores typically reduce turkey prices in the lead up to Thanksgiving to drive traffic through their doors, finder.com advised shoppers to start planning now to avoid slipping into credit card debt.
“Thanksgiving is a special day for enjoying time with friends and family, but it is also one of the most expensive days of the year for many families, especially if you are the one hosting,” said Michelle Hutchison, money expert at finder.com. “Turkey prices vary from store to store, with some as low as $0.59 a pound if you spend a minimum on other produce, so it pays to shop around.
“But what is really going to save you money in the long term is setting a budget ahead of time. This can help you avoid impulsive purchases, which is a serious issue for most credit cardholders. In fact, a finder.com-commissioned survey of 6,838 American adults found the majority of American credit cardholders – 64% or a total of 158.6 million people – make about seven unplanned purchases on average with their credit cards each month.
“Don’t be a turkey this Thanksgiving. Plan ahead and don’t let your spending get out of control or the holidays could end up costing a lot more than necessary.”
Finder.com Thanksgiving turkey tips
• Aim for at least one pound of uncooked turkey per person. This should be enough to feed everyone and provide leftovers
• Choose fresh or frozen depending on what works best with your schedule, but always check the sell-by date if you’re buying it fresh
• Allow at least 24 hours refrigerator thawing time for every five pounds of frozen turkey
• US prices per pound can range from $0.59 in some supermarkets to $7 and higher for heritage turkeys, so shop around
