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 your Orlando Sentinel Media Group representative or:
Source: National Retail Federation