Graduation may make everybody smarter - at least about gifts. The favorite graduation gifts for this year will be gift cards and cash according to a National Retail Federation report. 

No matter what direction the graduate is taking after school, both of these items can help them prepare for their future. 

Gift Cards and Cash Most Popular Graduation Gifts, According to NRF Survey

Washington, May 2008— Bigger isn’t always better when it comes to gift giving, especially for graduation. According to the National Retail Federation’s 2008 Graduation Consumer Intentions and Actions survey, conducted by BIGresearch, small-in-size items like gift cards (32.2%) and cash (56.8%) will remain the most popular graduation gifts, while traditional favorites like apparel (10.8%) and electronics (11.6%) will be given by fewer. In addition to gifts, many consumers also plan to give a greeting card (35.6%) to graduates.

According to the survey, Americans will spend $4.4 billion on graduation gifts this year with nearly one-third (32.4%) of Americans purchasing at least one gift this year. The average consumer buying graduation gifts plans to give a gift to two graduates this year and will spend an average of $52.12 on each present.

“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 NRF President and CEO Tracy Mullin. “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.”

Parents and other family members not only support their graduate through their education, they will also spend the most on graduation gifts this year. Consumers between the ages of 35-44 plan on spending over $106.79 on gifts.

About the Survey

The NRF 2008 Graduation Consumer Intentions and Actions Survey, conducted for NRF by BIGresearch, was designed to gauge consumer behavior and shopping trends related to graduation. The poll of 8,347 consumers was conducted from April 29-May 7, 2008. The consumer poll has a margin of error of plus or minus 1.0 percent.

Source:  The National Retail Federation 

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