Survey: Gift Cards & Cash are Top Graduation Gifts


This just in from theBirmingham Business Journal……

A nationwide survey of consumers found that Americans will be spending $4.5 billion this year on graduation gifts, with cash and gift cards as the highest rated items to be purchased.

The National Retail Federation found in its inaugural graduation survey that more than 31 percent of those polled will be purchasing gift cards for graduates this year, while nearly 59 percent plan to give cash.
President and CEO of the retail association, Tracy Mullins, said retailers can expect to see a bump in sales later this summer, as those gift cards are redeemed and the cash spent before many graduates head off to college.

One third of Americans will purchase at least one graduaton gift, said the survey, with those over the age of 45, mainly parents and grandparents, spending more than $110 on gifts.

The study also showed that greeting cards are still a favorite, with nearly 36 percent of those polled planning to purchase cards.

Though it seems long-time favorite gifts of clothes and electronics may be a thing of the past. Only 9 percent of consumers will be purchasing apparel for graduates and more than 11 percent will be purchasing electronics.

Giving gifts of electronics was popular two years ago, said Durece Ethridge, a supervisor at electronics retailer Best Buy on U.S. Highway 280. But with a lot of people returning the merchandise, gift givers got wise and started frequently purchasing gift cards instead.

Many college-bound graduates, he said, are buying iPods, digital cameras and new cellular phones with MP3 players to take to school.

So when you are looking for a gift for your graduate get them what they want — a gift card!!

Filed under Gift Ideas for College Graduate, Gift Suggestion For Son Graduate, Graduation Gifts, Graduaton Gifts, Mastercard Gift Cards, Prepaid Visa Gift Cards, graduation and gift and ideas by giftcard

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