GOOD MORNING AMERICA (VIDEO) Thanksgiving meal costs drop 2% to 3% this year: See how to save

Phil Lempert, a food industry analyst and editor of supermarketguru.com, broke down the price savings Monday on "Good Morning America." "What they're saying is if for 10 people, you want to serve Thanksgiving, it's going to cost you $95 if you go for the brand names. But, if you go for the store brands, it's only going to be $80. And that's significant," Lempert said.