Report: Gift Cards, Cash Most Popular Graduation Gifts
Washington, D.C. Gift cards and cash are the most popular gifts to give graduates this year, according to the National Retail Federation’s 2008 Graduation Consumer Intentions and Actions survey, conducted by BIGresearch.
Small-size items such as gift cards (35.6%) and cash (56.8%) will remain the most popular graduation gifts. Gift-givers also will bestow less-traditional favorites, such as apparel (10.8%) and electronics (11.6%).
In addition to gifts, many consumers also plan to give a greeting card (35.6%) to graduates.
According to the survey, Americans will spend $4.4 billion on graduation gifts this year, with nearly one-third (32.4%) of Americans purchasing at least one gift this year. The average consumer 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 will spend the most on graduation gifts, the report said. Consumers ages 35-44 plan to spend more than $106.79 on gifts.