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We are just a day away from Thanksgiving Day, which kicks off holiday season. Americans join extended families and give thanks for the good things they have in life. This year, the occasion must be merrier as inflation is cooling, a steady job market and a decent equity market should lay a bountiful spread on the Thanksgiving table.
Thanksgiving Dinner Cheaper This Year
As per the American Farm Bureau Federation, the average cost of a Thanksgiving dinner for 10 people will come for around will be $61.17, down 4.5% from last year’s record of $64.05, as quoted on CNBC. Almost the price everything on the Thanksgiving menu is lower this year – prices for cranberries have fallen 18%. This year, a 16-pound turkey is averaging $27.35, down 5.6% from a year ago.
Retail Buying on Thanksgiving
About 182 million people are planning to shop in-store and online from Thanksgiving Day through Cyber Monday this year, according to the annual survey released today by the National Retail Federation and Prosper Insights & Analytics. This figure is 15.7 million more people than 2022.
According to the survey, about 74% of holiday shoppers plan to shop during the five-day Thanksgiving holiday weekend this year, up from 69% pre-pandemic, in 2019. The primary motivations for consumers to shop during this period are as follows: About 61% believe that deals are irresistibly attractive and 28% of population will do it as part of the tradition.
Black Friday continues to be the most popular day to shop, with 72% planning to shop, up from 69% in 2022. Cyber Monday is the second most popular day, attracting 39% of those planning to shop over the weekend, on par with 38% last year.
ETFs to Tap
As a result, the following consumer discretionary ETFs will likely be the greatest beneficiaries.
Image: Bigstock
A Spread of Top-Ranked ETFs for Thanksgiving
We are just a day away from Thanksgiving Day, which kicks off holiday season. Americans join extended families and give thanks for the good things they have in life. This year, the occasion must be merrier as inflation is cooling, a steady job market and a decent equity market should lay a bountiful spread on the Thanksgiving table.
Thanksgiving Dinner Cheaper This Year
As per the American Farm Bureau Federation, the average cost of a Thanksgiving dinner for 10 people will come for around will be $61.17, down 4.5% from last year’s record of $64.05, as quoted on CNBC. Almost the price everything on the Thanksgiving menu is lower this year – prices for cranberries have fallen 18%. This year, a 16-pound turkey is averaging $27.35, down 5.6% from a year ago.
Retail Buying on Thanksgiving
About 182 million people are planning to shop in-store and online from Thanksgiving Day through Cyber Monday this year, according to the annual survey released today by the National Retail Federation and Prosper Insights & Analytics. This figure is 15.7 million more people than 2022.
According to the survey, about 74% of holiday shoppers plan to shop during the five-day Thanksgiving holiday weekend this year, up from 69% pre-pandemic, in 2019. The primary motivations for consumers to shop during this period are as follows: About 61% believe that deals are irresistibly attractive and 28% of population will do it as part of the tradition.
Black Friday continues to be the most popular day to shop, with 72% planning to shop, up from 69% in 2022. Cyber Monday is the second most popular day, attracting 39% of those planning to shop over the weekend, on par with 38% last year.
ETFs to Tap
As a result, the following consumer discretionary ETFs will likely be the greatest beneficiaries.
Consumer Discretionary Select Sector SPDR ETF (XLY - Free Report) – Zacks Rank #1 (Strong Buy)
Vanguard Consumer Discretionary ETF (VCR - Free Report) – Zacks Rank #1
Fidelity MSCI Consumer Discretionary Index ETF (FDIS - Free Report) – Zacks Rank #2 (Buy)
Invesco S&P SmallCap Consumer Discretionary ETF (PSCD - Free Report) – Zacks Rank #2
SPDR S&P Retail ETF (XRT - Free Report) – Zacks Rank #2