More Americans Think of Grads With a Gift

The average person buying graduation gifts will spend $106.45—a 3.9% jump from last year.

May 18, 2016

WASHINGTON – As Americans celebrate high school and college graduations over the next few weeks, many are showering graduates with special gifts to help them embark on the next chapter in their lives, and retailers are offering a wide variety of options to help consumers give the best gifts possible.

According to NRF’s 2016 Graduation Spending Survey conducted by Prosper Insights and Analytics, the average person buying graduation gifts will spend $106.45, up 3.9% from last year for a total of $5.4 billion, an all-time high in the survey’s 10-year history. The average shopper is buying for two graduates, however, so each recipient can expect only about half that amount.

Cash will once again be the most popular gift, given by 56% of shoppers as they seek to help students with the transition from high school to college or college to the “real world.” Greeting cards—many with cash inside—follow at 39%, gift cards at 31%, clothing at 14% and electronics at 11%.

At 42%, recent graduates between the ages of 18 and 24 are the most likely to give a gift to their peers or family members. The biggest spending comes from those between the ages of 45 and 54, at $120.74 on average, compared with $78.08 for 18- to 24-year-olds and $105.52 for those age 65 and older.

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