Americans hosting Thanksgiving to spend 19% more than last year: report

Published On Nov 25, 2024, 6:00 AM

According to a report from LendingTree, Americans hosting Thanksgiving dinners plan to spend an average of $431 this year, which is a 19% increase compared to last year's expenses. The rise in costs is attributed to ongoing inflation, which affects food, drinks, and decor. Many hosts are feeling the financial strain, with over one-third commenting that the spending may create budget issues. In response, a majority of hosts expect their guests to contribute to the meal either by bringing food or helping financially. The report highlights that inflation continues to impact consumer behavior regarding holiday celebrations.

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The increase in Thanksgiving spending suggests a resilient consumer spending trend, although still impacted by inflation. Companies in the retail and consumer goods sector may benefit from increased holiday purchases.

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