Weddings remain a vital component of retail-based registries, but other life moments such as graduation are gaining momentum, according to MyRegistry.com.
This year, more than 3.7 million high school seniors will graduate, a figure that’s nearly double the number of couples who will wed in 2019, MyRegistry.com said.
“Industry data tells us wedding registries generate $20 billion in annual sales,” said Nancy Lee, president of MyRegistry.com. “But the gifting that surrounds graduations is just as impressive, and shouldn’t be overlooked. In just the next four months alone, it’s estimated that more than $5 billion will be spent on gifts for grads.”
After completing an analysis of thousands of graduation registries in its database, MyRegistry.com found that the average graduation registry features more than two dozen items. The list of products for the high school graduate range includes earbuds, laptops, twin XL sheets, coffee makers and string lights, all items likely to be used in a college dormitory.
Other popular requests included items for storage and organization, desk accessories, and dining essentials, such as plates, bowls and cups.
In addition, MyRegistry.com also found that gifting for graduations is strong across all age groups. About 45% of 18 to 24 year-olds gift each other, spending an average of $75 per gift. Older customers (typically parents, grandparents/other relatives) are even more generous, spending an average of $110 per gift.