{"id":4691,"date":"2023-05-06T11:55:17","date_gmt":"2023-05-06T16:55:17","guid":{"rendered":"https:\/\/www.rmservicing.com\/?post_type=articles&p=4691"},"modified":"2023-05-06T11:55:17","modified_gmt":"2023-05-06T16:55:17","slug":"graduation_gifts","status":"publish","type":"articles","link":"https:\/\/www.rmservicing.com\/articles\/graduation_gifts\/","title":{"rendered":"Graduation Gifting is on the Rise"},"content":{"rendered":"\n

High school and college graduation are important milestones, and gifting for graduates is a highlight of Spring retail spending. Friends and family members want to strike a balance between gifting thoughtfully, appropriately, and practically. The National Retail Association\u2019s 2022 survey<\/a> of more than 8,000 consumers (18+) shows that both the number of people gifting for graduates and the amount spent per gift is on the rise. Retailers have several opportunities to make the most of graduation season, and RMS is uniquely positioned to keep brands ahead of the curve.<\/p>\n\n\n\n

The\nsheer volume of people purchasing graduation gifts is climbing. The NRF reports\nthat the number of people purchasing graduation gifts hit a ten-year low in\n2020. But in just two years the number of purchasers has rebounded to the\nten-year average of 33%, with a total expected spend of $5.8 billion across the\npopulation. The average amount spent on graduation gifts is also climbing, a\ntrend that has continued steadily in recent years. Respondents to the 2022\nsurvey reported spending an average of $114 on graduation gifts. <\/p>\n\n\n\n

What People are Gifting Their Grads<\/h2>\n\n\n\n

But what are people actually giving the graduates in their life? There are more options out there than ever, and some experience pressure to come up with unique or personalized gifts for graduates, which is why it\u2019s no surprise that the most popular choices for graduation gifts continue to be cash, cards, and gift cards. Cash is by far the most popular graduation gift, accounting for 52% of graduation gifts in 2020. Giving cash gives graduates the option to spend or save as they choose, an important parallel to their transition into adulthood. <\/p>\n\n\n\n

A\ncard with a personal message is still an important way to congratulate\ngraduates on their achievements. Cards account for 37% of graduation gifts in\n2022. When paired with cash, a card can combine a personal touch with\npracticality. The card\u2019s message could be an opportunity to suggest how the\ncash or gift card could be spent, such as for dorm room supplies or headphones\nof the graduate\u2019s choice. <\/p>\n\n\n\n

In a\nsimilar way, gift cards can suggest a type of gift while giving the graduate\nthe actual purchasing power. Gift cards are the third most popular choice in\nthe NRF survey, accounting for 31% of graduation gifts. With gift cards,\nretailers have two opportunities to connect with consumers: first with the\ninitial purchase of the card by the gift-giver, and then with the graduates\nthemselves. Whether catching the attention of someone purchasing a gift card or\ndrawing in a graduate with a gift card to spend, brands must ensure that their\nshop floor presence is on point to maximize in-store execution. <\/p>\n\n\n\n

How RMS Can Help Brands Capture Grad Dollars<\/h2>\n\n\n\n

RMS\nis uniquely positioned to assist brands in making the most of graduation\nseason. Your RMS account manager works with you to develop ISM strategies<\/a> and conduct field tests of\nthe service, ensuring that displays are in place and up-to-date and that\nshelves are re-stocked promptly. 64%<\/a> of consumers report that the\nin-store experience has the greatest influence on what they choose to purchase,\nmaking these strategies essential for driving graduation season purchases. <\/p>\n\n\n\n

In-store displays and stock-level management are important for other graduation gift categories too. Apparel and electronics represent 16% and 11% of 2022\u2019s graduation spending respectively in the general population. These gift categories are more popular among younger graduation gift-givers, with 27% of people aged 18-34 spending on apparel and 19% in the same age group spending on electronics. Electronics and apparel brands have a great opportunity to catch the wave of younger graduation gift-givers spending more on the graduates in their lives but need to have reliable strategies to track and improve in-store execution. <\/p>\n\n\n\n

RMS\nuses a proprietary platform<\/a> to provide summary-level and\nstore-level reporting that makes the difference in enhancing your merchandising\nstrategies. Combined with our management team\u2019s more than 150 years of\nexecutive retail experience, our cutting-edge reporting allows brands to shape\ntheir presence to meet the shifting habits of our younger consumers. <\/p>\n\n\n\n

While\nyounger graduation gift-givers are more likely to give electronics and apparel,\nconsumers age 45 and up overwhelmingly give cash. In the 65+ category, 66% of\nrespondents report gifting cash to graduates. This trend is driven by the\nbelief that graduates are better at selecting gifts for themselves, and also\nfrom the understanding that they may need more help with basic necessities<\/a> than they realize. As\ngraduates enter a challenging economic climate, help with groceries and dorm\nroom basics can actually be the best use of graduation gift funds. <\/p>\n\n\n\n

The class of 2023 has faced some unprecedented challenges on their way to graduation. Remote learning and economic uncertainty have shaped their experience in education and will continue to shape their lives. Friends and family members recognize this and are showing up for graduates with gifts that empower them. Whether they receive cash or gift cards, graduates will be making the ultimate purchasing decisions on their graduation gifts. Brands have two waves of consumers to catch this graduation season, and RMS has the tools and experience to make the most of it. <\/p>\n\n\n\n

Interested in partnering with RMS for all of your retail merchandising needs? Call us today!<\/a><\/strong><\/p>\n","protected":false},"featured_media":4692,"template":"","article_categories":[9],"acf":[],"yoast_head":"\nGraduation Gifting is on the Rise - RMS<\/title>\n<meta name=\"description\" content=\"Graduation is an important milestone and graduation gifts are an opportunity for retailers to help people celebrate key milestones in their lives.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rmservicing.com\/articles\/graduation_gifts\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Graduation Gifting is on the Rise - RMS\" \/>\n<meta property=\"og:description\" content=\"Graduation is an important milestone and graduation gifts are an opportunity for retailers to help people celebrate key milestones in their lives.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.rmservicing.com\/articles\/graduation_gifts\/\" \/>\n<meta property=\"og:site_name\" content=\"RMS\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.rmservicing.com\/wp-content\/uploads\/2023\/05\/Graduation-Gifting-is-on-the-rise-1024x576.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"576\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.rmservicing.com\/articles\/graduation_gifts\/\",\"url\":\"https:\/\/www.rmservicing.com\/articles\/graduation_gifts\/\",\"name\":\"Graduation Gifting is on the Rise - 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