Gift cards (35.6%) and cash (56.8%) will remain the most popular graduation gifts, according to the National Retail Federation’s 2008 Graduation Consumer Intentions and Actions survey, conducted by BIGresearch.
Traditional favorites like apparel (10.8%) and electronics (11.6%) will be given by fewer this year, and many consumers also plan to give a greeting card (35.6%) to graduates, in addition to gifts.
According to the survey, Americans will spend $4.4 billion on graduation gifts this year, with nearly one-third (32.4%) of purchasing at least one gift.
On average, consumers buying graduation gifts plans to give a gift to two graduates this year and will spend an average of $52.12 on each present.
Parents and other family members plan to spend the most on graduation gifts this year. Consumers age 35-44 plan on spending over $106.79 on gifts.
About the survey: The NRF 2008 Graduation Consumer Intentions and Actions Survey, conducted for NRF by BIGresearch, was designed to gauge consumer behavior and shopping trends related to graduation. The poll of 8,347 consumers was conducted from April 29-May 7, 2008.