Thanksgiving, a national holiday and a beloved celebration, marks the beginning of the holiday season in America. Celebrated on the fourth Thursday of November, the festivities center around a hearty meal, family gatherings, and other traditions passed down through the generations.
Hosting the Thanksgiving dinner, traveling to meet family, and preparing for the festivities can be joyful, but they can also be stressful. The cost of the holiday, especially with the higher prices of everything from the turkey to tickets, can make families more mindful of their budgets.
In recent months, the overall economic mood has been cautious, as reflected by the RealClearMarkets/TIPP Economic Optimism Index. Persistent inflation concerns, stock market volatility, and the federal monetary policy have added pressure on households and businesses planning for the holidays.
With Thanksgiving just around the corner and people making plans for travel and celebrations, TIPP Poll conducted a nationwide survey of over 1,400 adults to gauge whether the current economic conditions are influencing people’s plans for the holiday.
Americans are almost evenly divided on whether they are concerned or unconcerned about the cost of hosting or attending Thanksgiving this year. While 48% said they were concerned about the costs, 47% were not. Almost a quarter (24%) were ‘very concerned,’ meanwhile, another quarter (23%) were ‘not at all concerned.’
Predictably, the highest number of those worried about the cost of celebrations were in the lowest income bracket (earning less than 30k). More than half of all age brackets, except seniors, stated they were concerned about the expenses related to Thanksgiving, while less than a third (31%) of the seniors shared such concerns. The seemingly skewed numbers reflect the general trend of Thanksgiving celebrations, as seniors are less likely to travel far or host big gatherings.
Thanksgiving kicks off the holiday season. With just about a month to go for the biggest festival on the American calendar, Christmas, most folks are keeping a sharp eye on their budgets.
Asked whether they expected to spend more, less, or about the same on Thanksgiving celebrations, including on food, travel, and entertainment, as compared to last year, the numbers offer a clear picture of how families are approaching the holiday.
The largest segment (42%) expects to spend about the same as last year. However, slightly more than a quarter (28%) aim to spend less, and about a tenth (22%) expect to spend more. The rest were unsure about the trajectory of their expenses.
Among those hoping to cut their Thanksgiving expenses are 37% of the lowest-income group, 32% of those in the 30k-50k income bracket, a quarter of those making 50k-75k, and 16% of the top earners. Interestingly, 30% of youngsters and 28% of those in the 25-44 age group expect to spend more, while 32% of the 45–64-year-olds and 30% of seniors plan to spend less on food, travel, and entertainment around Thanksgiving.
Even as people stay budget-aware, shopping experts and grocery stores remain hopeful. While headlines about higher food prices and smaller meal bundles have fueled perceptions that Thanksgiving is bound to be more expensive this year, some analysts point out that people may not need to spend more for a typical Thanksgiving meal. For instance, large retail chains have announced promotional meal bundles that cost 2–3% less than last year. Stores have reduced the number or quantity of items included in the meal bundles and substituted lower-cost store brands to offer value for money. One way to keep budgets in check, especially when it comes to the feast, is to opt for store-brand deals and consider substitutions to some of the less-loved-but-expensive dishes on the menu.
The relatively subdued mood may disappoint the retail industry, especially those that bank on holiday sales. Retailers are watching closely, wondering whether shoppers will carry their budget-minded approach into the Christmas season and curtail spending on gifts and holiday shopping.
Despite the economic backdrop, Americans are unlikely to forego one of the year’s most beloved holidays. In the end, it’s not the size of the turkey or the scale of the décor that defines Thanksgiving. Its real meaning lies in gathering together and celebrating the blessings, big and small, that the year has brought.
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🟩 Futures Steady After Sharp Losses
U.S. futures stabilized early Friday after Thursday’s heavy selloff and fading expectations of a December Fed rate cut. Markets are heading for a losing week as stronger-than-expected September jobs data further reduced hopes for near-term easing.
🟧 Japan Approves Major Stimulus Package
Japan passed a ¥21.3T ($135B) stimulus plan aimed at boosting competitiveness in semiconductors, AI, and shipbuilding. The yen strengthened slightly, though intervention risks are rising after last year’s record support for the currency.
🟥 Bitcoin Falls to Seven-Month Low
Bitcoin slid below $86,000, down more than 9% for the week as risk appetite deteriorates and uncertainty about the Fed’s December decision grows.
Roughly $1.2 trillion in crypto market value has evaporated in six weeks.
🟨 U.K. Faces Tough Budget Choices
U.K. borrowing jumped to £17.4B in October, ahead of forecasts, complicating Chancellor Rachel Reeves’s upcoming budget. Retail sales fell 1.1%, and consumer confidence weakened, pointing to a stressed consumer backdrop.
🟥 Crude Slips as Peace Talks Loom
Oil prices extended losses on reports of U.S.-Russia peace-framework discussions with Ukraine, potentially lowering geopolitical risk. WTI fell 2% to $57.85; Brent −1.7% to $62.30, on track for weekly declines over 3%.
🗓️ Key Economic Events — Friday, November 21, 2025
🟧 09:45 AM — S&P Global Manufacturing PMI (Nov, Preliminary)
A timely read on factory activity — tracks order books, production, and supply-chain conditions across U.S. manufacturers.
🟨 09:45 AM — S&P Global Services PMI (Nov, Preliminary)
Measures activity in the services sector — the largest part of the U.S. economy — and a key gauge of demand and business confidence.
editor-tippinsights@technometrica.com
