Pomp with Some Circumstance

On May 22, 2009. By Fran, under Industry News.

As the end of the school year approaches, seniors everywhere will toss up caps in glory of the ultimate teen experience, graduation.

That’s why it makes sense for retailers to try to get a piece of the graduation action, since it’s a $3.9 billion enterprise, according to the National Retail Federation. That estimate for this graduation season is down from $4.37 billion a year ago, as consumers count their pennies.

Not to damper all the pomp with economic circumstance, this year graduation will still serve up plenty of back yard barbecue’s, pool parties and basic affairs rather than formal, in-house catered events. Formality for graduation has taken a backseat to more economical ways to celebrate with family and friends.

“The high school senior year is a very important year, because it’s the end of childhood and the beginning of adulthood”

Wouldn’t keys to a new car be the ultimate gift for junior as he sets off for college? Not this year son, but on a positive note, retailers such as Hallmark cards, Things Remembered specializing in personalized items and jewelry chain locations offering keepsakes still hold presence.

All together these items might not seem like a huge margin as gift cards and personal checks dominate, but still carry enough market power for this annual summer tradition.

A Retailers’ Trade Association study showed the appeal of cash is practical and needed in tight times, especially for the younger set.

Maybe a new lap top for college, career clothes for the office or helping Mom & Dad toward tuition fees. Those monetary presents will no doubt come in handy and not leave much left over this year for extracurricular activates-beer.

But hey, that’s the breaks, kid.

Along with those prized cash rewards for all the hard work and endless hours of homework, this year comes with another one, a real reality check…

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