Graduation Spending To Top $5.5 Billion

NRF

May is synonymous with graduations and the end of school for millions of students across the country. With a strong overall economy fueled by low unemployment and scant inflationary price pressures, consumers are expected to increase their overall spending on graduation this year to more than $5.5 billion, up 5.97% from spending a year ago. That equates to $107.46 per household.

While overall spending is expected to be higher this year, it still lags the record cumulative spend of $5.59 billion reported in 2017, according to the National Retail Federation. Just 34% plan to purchase gifts for graduation as the majority will give cash, according to the NRF.       MORE

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