Gift cards and cash top graduate gift survey

WASHINGTON, D.C. The National Retail Federation says that gift cards and cash are going to remain the most popular gifts for graduates this June.

According to the 2008 Graduation Consumer Intentions and Actions Survey, cash is the most popular gift item again this year with 56.8% of respondents saying that will be their gift of choice. Gift cards are next with 35.6% of respondents intending to take that route followed by electronics (11.6%) and apparel (10.8%).

Total spending on graduation gifts is expected to reach $4.4 billion next month with nearly one-third of Americans planning to buy at least one gift and spend an average of $52.12 on each present.