NRF has been conducting its annual graduation spending survey since 2007 to see how Americans will celebrate high school and college graduates each spring.
According to NRF's annual survey conducted by Prosper Insights and Analytics, 34% of respondents will buy a gift for a grad in their life this year.
- Average spending will be $107.46
- Cash will, once again, be the top gift
- 2018: Graduation spending to reach $5.2 billion
- 2017: Graduation spending to reach record-high $5.6B
- 2016: Americans to spend $5.4 billion on graduation gifts
- 2015: Graduates make room for electronics, cash after graduation
Results of NRF’s graduation spending survey are released each year in May.