News

Graduation time is boom time for retailers

June 2, 2017

Consumer spend on graduation is predicted to hit an all-time high this year.

A survey published by National Retail Federation, conducted by Prosper Insights & Analytics, states spending will hit $5.6 billion, according to a press release.

That figure would be the highest in the survey's 11-year history and top last year's record of $5.4 billion.

When it comes to specific gifts, cash still rules and is doled out by 53 percent of consumers but it is losing some ground to gift cards.