Inflation Affects Thanksgiving Holiday Plans Invest in Retail Customer Experience

Only 26% of Americans will celebrate Thanksgiving this year, the lowest rate in four years. This represents a 45% drop from 2021 and a 37% drop from 2020.

More than half of Americans, 56%, say inflation affects their gratitude plan and/or budget, and they look for discounts and deals, according to a Lending Tree report.

Average Thanksgiving spending will be $396, but will rise to $527 among six-figure earners and $498 among Gen Z hosts, according to a press release about the findings.

“It’s not just about the turkey, the decorations or the gas to see the parents,” Lending Tree chief credit analyst Matt Schultz said in the release. “That’s it. It creates a huge problem for the average family, which is already having to work harder to make ends meet because of rampant inflation.”