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Magazine > Market Survey > News Content

Survey: Fewer grad gift shoppers but bigger spend

5/20/2010 6:24:42 PM

Washington--Fewer consumers plan to buy graduation gifts this year but those who are in the giving mood will spend more, the latest research from the National Retail Federation (NRF) shows.

NRF's "2010 Graduation Consumer Intentions and Actions" survey, conducted by BIGresearch between May 4 and 12 using 8,431 consumers, found that 31.4 percent of consumers plan to buy graduation gifts, compared to 32.5 percent in 2009. Each gift-giver will spend a bit more though, an average of $89.95 per gift, up slightly from $88.01 last year, the survey shows.

Total graduation spending in 2010 is expected to reach $3.9 billion. (Total spending is an extrapolation of the survey results based upon the U.S. population age 18 and over.)

When it comes to rewarding recent graduates, cash is still king, with 58.3 percent of survey-takers giving cash to recent graduates, on par with 58.9 percent last year.

According to the survey, though, those giving graduation gifts this year will once again invest in apparel, with 11.4 percent doing so this year, up from the 9.9 percent who spent on apparel graduation gifts in 2009. Gifts of electronics are up to 10.6 percent from 9 percent last year, and gift cards will be the choice of 31.6 percent versus 29.4 percent in 2009, the survey shows.

"The appeal of tangible gifts will never fade, but cash and gift cards are often a welcome present for graduates," NRF President and Chief Executive Officer Matt Shay said in a news release. "Many young adults, who are impacted by a lack of summer employment options or struggling to find an entry-level job out of college, realize that monetary gifts offer the flexibility to buy everything from college textbooks to furniture for their first apartment."

The survey also found that graduation gift-giving among young adults is far different than other age groups. Young adults are more likely to give apparel for graduation: 24.9 percent as compared to 11.4 percent of all adults over the age of 18. Younger people, those between the ages of 18 and 24, also are less likely to give cash, with 49 percent doing so as compared to 58.3 percent of all adults, the survey shows.

"Young adults, who may be graduating themselves, want to acknowledge special events in their friends' lives with gifts but are spending on a budget," Phil Rist, executive vice president of strategic initiatives at BIGresearch, said in the release. "Many young people buying graduation gifts will opt for greeting cards, college apparel or other inexpensive items to say 'congratulations.'"

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