Gift-Givers Turn to Cash and Gift Cards for Graduates

New graduates can expect to be gifted with gift cards, apparel and electronics this graduation season. According to the National Retail Federation’s latest graduation survey conducted by BIGinsight, families and friends will mark with occasion by spending on average $49 per recipient. Last year, the average gift ringed in at $51. The survey also found that most gift-givers are purchasing items for up to two graduates. Total spending on graduation gifts – mostly for high school and college students – will reach $4.6 billion this year. More than half of gift-givers will give cash.

The most popular gift at retail? Gift cards, with 32 percent of consumers reporting that the practical item is their go-to gift for young adults. Other consumers will gift with electronics (12 percent) and apparel (11 percent).