Graduation is a special time in people’s lives. Whether it’s people graduating from high school or college, it’s a time of transition. This year, graduates will be grabbing more than just diplomas, they’ll be getting more gifts than in previous years.
• One in three Americans are anticipated to purchase a graduation gift in 2012
• Year over year, spending on graduations is expected to increase by over 30%
• On average, Americans will spend just under $100 on graduation gifts this year
• Cash is the most popular gift, nearly 60% of people will give graduates money, cards ranked second (41%) and gift cards came in number three (33%). Hopefully, the cards had either cash or a gift card in it.
What Does This Mean To You
Graduates could mean all kinds of business for a wide range of companies. Whether it’s new clothes for people entering the work world to dorm furniture for those off to college – someone graduating can create an array of consumer spending. To leverage business from the actual graduation ceremonies themselves – position any gift cards you have near your greeting cards. If you are a florist, promote any graduation specials you may have. Also, going out after the ceremony is a time honored tradition. If you are a restaurant, you may want to think about promoting a special offer for graduation parties. The key to all of this is targeting. For more information on engaging graduates, their parents or grandparents, please contact:
Source: National Retail Federation