By Elyse Desmarais on May 24, 2016
Graduation season is upon us and I’m sure many of you have been invited to a party (or are throwing a party) for a recent high school or college grad. Whether you’re attending or hosting a party, you’re most likely giving said graduate a gift. Retailers are more than aware of graduation season and have stocked shelves full of gift options for today’s consumers. And with Americans poised to spend more on gifts this year than the last, retailers are sure to cash in.
The National Retail Federation’s 2016 Graduation Spending Survey found Americans plan to spend, on average, $106.45 on gifts. This amount is up 3.9% from last year, making “for a total of $5.4 billion, an all-time high in the survey’s 10-year history.” Unfortunately for some grads, the average shopper is buying for 2 graduates at a time, meaning this amount with be shared for both gifts.
The most popular gifts include:
Cash at 56%
Greeting card (some with cash inside) at 39%
Gift cards at 31%
Clothing at 14%
Electronics at 11%
American spending on graduation gifts has seen dips and rises over the past 10 years, but 2016 still proves to be the highest.
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