Name brand frozen vegetables may be the way to go for consumers this Thanksgiving as per the Wells Fargo Thanksgiving Food Report. According to the report, this holiday, national name brand frozen vegetables are down 15 percent.¹ Comparatively, private label frozen vegetables have increased, just slightly though by 0.8 percent.
Frozen and fresh vegetables
As the report notes, consumers have pressured national brands to offer more value to achieve their share of sales.¹ "This has been a gradual process as store brands compete with national brands," says Wells Fargo's Dr. Michael Swanson, chief agricultural economist, who co-authored the report with Robin Wenzel, head of Wells Fargo Agri-Food Institute, and Courtney Schmidt, Agri-Food Institute sector manager. "The vegetable market has taken advantage of the same great growing conditions that lead to a record corn crop. They are separate supply chains, but they are both very weather sensitive."
© Wells FargoNational name brand frozen vegetables are down 15 percent.
As for other ways to consume vegetables, pricing in those categories is expected to be similar or slightly higher than frozen and this includes vegetables that are fresh, individually quick frozen (IQF) and canned. "However, shoppers are encouraged to shop around for deals, especially with big box retailers offering deals when buying in bulk," notes the report.
Cranberries as a side
Also in the category of side dishes, cranberries–along with stuffing and prepared gravy mix–have dropped in price from between 3-4 percent over last year. Similar to frozen vegetables, there is pressure from greater supply and private label pricing.¹
"The sweetest savings are seen with national brand pumpkin pies, down 3 percent.¹ To save on these items, shoppers should select private label for stuffing, dinner rolls and gravy mix, but when it comes to fresh cranberries and pumpkin pie, consumers can head straight to the national brands," notes the report.
© Wells Fargo
The vegetable market has taken advantage of the same great growing conditions that lead to a record corn crop, says Dr. Swanson.
Potatoes on the table
While consumers could clearly buy a 10-lb bag of potatoes to pull together their favorite mashed potato dish, prepared mashed potatoes–a new addition to the Wells Fargo Thanksgiving Day menu–is a rapidly growing category. That growth traces back to both developments in quality and convenience. This category saw a price drop of 1.5 percent from last year with a better potato crop and competition at work, notes the report.
Salad options for diners
The report indicates that prepackaged salad mixes increased in price slightly by 0.3 percent and it too is a category in which store and name brands are battling. "They are locked into the same dynamic for innovation and perceived consumer preference and value," says Dr. Swanson.
In all, the report notes that even though the cost of food at home measured by the Consumer Price Index (CPI) is up 2.7 percent from a year ago, the cost of Wells Fargo's Thanksgiving menu has fallen by about 2 to 3 percent, depending on the shopper's strategy.¹ "This year, we expect that retailers are more consistent in the prices they are offering," says Dr. Swanson. "This makes shopping around at multiple stores less of an issue with the exception of the turkey. With high wholesale prices, there could be a bigger spread at retail between the haves and the have-nots."
© Wells Fargo
L-R: report co-authors Courtney Schmidt and Robin Wenzel.
Ultimately the report indicates that an all private-label menu for Thanksgiving comes in at $80, while an all national-name brand menu totals $95.² "Budget conscious consumers will also have room to mix and match based on preference," notes the report.
The fight between private and name brand labels is also expected to continue. "This battle for market share will continue to seesaw as the national brands introduce innovation and the store brands copy that innovation. The store brands need national brands to help promote the category," says Dr. Swanson.
¹ Data reported by Nielsen ("NIQ") for the latest 52 weeks ending 9/06/2025, for the United States.
² Wells Fargo's 10-person menu includes: turkey, stuffing, frozen vegetables, prepared mashed potatoes, gravy, fresh cranberries, dinner rolls, salad mix, pumpkin pie and whipped cream for the pie.
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For more information:
Sarah Hatch
Wells Fargo
[email protected]
https://www.wellsfargo.com/
