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Shoppers to Spend More on Grads

Gifts of cash, clothing and gadgets to push sales up to $4.7 billion.

Graduates are putting on their caps and gowns for a big milestone in their lives. It’s a time of transition that happens every year, but 2012’s graduation season could mean slightly higher sales for merchants.

A survey by the National Retail Federation finds that more people will buy gifts for their grads this year than they did in previous seasons. The survey notes that more than 33 percent of buyers will buy something for a graduate they know, a slight increase from last year’s 30.7 percent average.

In all, sales for grads could reach $4.7 billion, NRF notes. Last year, sales were projected to reach $3.8 billion.

“Families and relatives are opening their hearts and wallets a little bit more to help high school and college seniors prepare for the opportunities and challenges that lie ahead,” says Kathy Grannis, a spokeswoman for NRF.

Experts say the top gift will be cash, with 57.6 percent of people expected to give graduates this. However, cards, clothing, electronics and gift cards will also be popular gift options.

Shoppers are projected to buy for an average of two graduates this year, the survey adds, and spend an average of $99.94 on gifts. That’s about $9 increase compared to last year.

About the author

Olga Munoz
Olga Munoz is editor of TheOnlineSeller.com. In addition to writing news and feature articles about e-commerce, selling trends, online marketing and other topics of interest to online sellers, Olga manages the site's social media efforts. A journalism graduate of Chico State, Olga says her favorite part of being a journalist is learning interesting facts that help put stories into perspective, attending industry events and meeting interesting people "that leave you smiling, even in tough situations." Opinions expressed here may not be shared by The Online Seller and/or its principals.



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