WASHINGTON -- The average person who buys gifts for this year’s graduates and spend $97.79 for an average of two graduates, the National Retail Federation reports. Cash is the most popular gift.
Total spending on gift cards, electronic items, apparel and other items will total $4.7 billion, the highest amount in the history of the nine years the federation has conducted a graduation spending survey..
High school graduates will look to their parents to stock their cars full of new gadgets, clothing and gift cards as they head off to college, the survey found.
The survey found that most, 56.8%, will give cash. Nearly 40% will give a card and 12% will buy items for their business wardrobes. Three in 10 will let the celebrant choose by buying gift cards, and 8% will buy an electronic item.
Published by The Business Journal, Youngstown, Ohio.
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