FOR IMMEDIATE RELEASE May 31, 2023
Contact: Bryan Wachter (775) 771-8969 | Bryan@RANNV.org
Statewide Graduation Spending Projected to Exceed $100 Million Spending on New Graduates to Reach $6.4 Billion Nationally in 2023 Tens of thousands of university, college and high school students in Nevada will complete the next step in their academic journeys this spring and graduate after years of hard work. To celebrate their achievements, friends and family of Nevada grads will spend an estimated $104.5 million, according to projections by the Retail Association of Nevada (RAN). RAN projections are based on a recent survey by the National Retail Federation (NRF), which estimated that the average consumer across the country plans to spend an average of $116.19 on graduation gifts this year, which will add up to a record $6.4 billion in spending nationwide. Over one-third (36.0 percent) of respondents reported they would be celebrating a graduation this year, the highest participation since 2017. Yet again, cash is king in terms of gifts, with 52.0 percent of people planning to include cash in their graduation gift, according to the NRF survey. Cards (38.0 percent) and gift cards (33.0 percent) are the second and third most popular choices. Other gifts include apparel (18.0 percent), electronics (15.0 percent) and “other gifts” (4 percent). Nevada’s two largest universities, University of Nevada, Las Vegas (UNLV) and University of Nevada, Reno (UNR) will award over 6,600 degrees combined this spring. The state’s largest college, College of Southern Nevada (CSN), will award 3,800 degrees to its class of 2023, and more than 25,000 high school graduates in Nevada will receive their diplomas. www.RANNV.org
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www.RANNV.org
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