Food retailers across the United States are slashing their prices in anticipation of slower consumer spending this Thanksgiving.

According to USA Today, companies are launching various offers and some are even giving away free turkeys to entice shoppers into their stores.

US consumers have been hit hard by mounting debt and increases in the cost of everyday essentials and are tightening their belts ahead of the holiday season.

In a bid to encourage them to open up their wallets, retailers are using coupons, introducing numerous price cuts and resorting to free giveaways.

Harry Balzer, a food expert at NPD Group, told USA Today that there is likely to be an increase in the number of families and friends eating together this Thanksgiving to cut costs.

Meanwhile, a new survey by Deloitte reveals that 71 per cent of US citizens plan to do some or all of their holiday shopping online this year to save money.

Consumers struggling to make Thanksgiving special this year could consider pay day loans to tide them over for a short period of time.

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