Spending on Graduates Increases

Just in time for high school and college graduation season, the National Retail Federation (Washington, D.C.) released findings from its Graduation Spending Survey, conducted by Prosper Insights & Analytics (Worthington, Ohio).

The survey analyzed projected spending on gifts for graduating students this year. It found that each person shopping for graduation gifts will be buying presents for approximately two graduates, spending a total of $102.50.

The survey has been tracking spending for a decade and found that this year’s total spending is the most reported, at an all-time high of $4.77 billion

Half of gift-givers plan to give money to graduates, while 40 percent will give a card, 13 percent will give clothing items, and more than 10 percent will give electronics.