Graduation Gift Buying Increases

May 23, 2008

Source: The Merchandise Group


As graduation day approaches for many in the United States during the month of June, graduation gift buying is kicking into high gear. Americans will reportedly spend $4.4 billion on graduation gifts in 2008, according to a recent survey by Worthington, Ohio-based BIGresearch on behalf of the National Retail Federation (NRF).

The survey reveals that the most popular graduation gifts this year include gift cards and cash. In fact, 35.6 percent of the 8,347 individuals surveyed reported they would give grads gift cards, while 56.8 percent will hand over cash, 11.6 percent will purchase consumer electronics and 10.8 percent will buy apparel. In addition, 35.6 percent of consumers will also purchase a greeting card for the graduate in their lives.

Quantity of graduation gifts is also a factor. The survey noted that approximately 32.4 percent, or one-third of consumers, will purchase at least one graduation gift this year; with the average consumer buying two graduation gifts and spending, on average, $52.12 on each item. Parents and family members ages 35-44 will spend even more on their grads, buying a reported $106.79 in gifts for the 2008 graduation year.

“Graduation is a time for celebration and there is no better way to wish a graduate luck in the next chapter of their life than by giving them a leg up financially,” said Tracy Mullin, NRF president and CEO. “Cash or a gift card is the perfect gift for graduates who may be moving away from home, starting a new job, or heading to college in a few months.”

Retailers can use the upcoming graduation season as an opportunity to cater to these increased buying needs. Offering gift cards or certificates at your store is an absolute must, as is advertising to your customers specifically for the graduation season. Having graduation cards available will also serve as a reminder for shoppers. In addition, retailers can use their Web sites, blogs, social networking sites (such as on MySpace and Facebook) and customer email/mailing lists to encourage shoppers to purchase graduation gifts at their location.

Graduation is an exciting time for both grads and retailers. With the help of the NRF and BIGresearch, retailers can cater specifically to consumer needs.

Graduation Gift Buying Increases

May 23, 2008


Source: The Merchandise Group

As graduation day approaches for many in the United States during the month of June, graduation gift buying is kicking into high gear. Americans will reportedly spend $4.4 billion on graduation gifts in 2008, according to a recent survey by Worthington, Ohio-based BIGresearch on behalf of the National Retail Federation (NRF).

The survey reveals that the most popular graduation gifts this year include gift cards and cash. In fact, 35.6 percent of the 8,347 individuals surveyed reported they would give grads gift cards, while 56.8 percent will hand over cash, 11.6 percent will purchase consumer electronics and 10.8 percent will buy apparel. In addition, 35.6 percent of consumers will also purchase a greeting card for the graduate in their lives.

Quantity of graduation gifts is also a factor. The survey noted that approximately 32.4 percent, or one-third of consumers, will purchase at least one graduation gift this year; with the average consumer buying two graduation gifts and spending, on average, $52.12 on each item. Parents and family members ages 35-44 will spend even more on their grads, buying a reported $106.79 in gifts for the 2008 graduation year.

“Graduation is a time for celebration and there is no better way to wish a graduate luck in the next chapter of their life than by giving them a leg up financially,” said Tracy Mullin, NRF president and CEO. “Cash or a gift card is the perfect gift for graduates who may be moving away from home, starting a new job, or heading to college in a few months.”

Retailers can use the upcoming graduation season as an opportunity to cater to these increased buying needs. Offering gift cards or certificates at your store is an absolute must, as is advertising to your customers specifically for the graduation season. Having graduation cards available will also serve as a reminder for shoppers. In addition, retailers can use their Web sites, blogs, social networking sites (such as on MySpace and Facebook) and customer email/mailing lists to encourage shoppers to purchase graduation gifts at their location.

Graduation is an exciting time for both grads and retailers. With the help of the NRF and BIGresearch, retailers can cater specifically to consumer needs.