WASHINGTON DC, May 22, 2007 / --- Consumers are ready to shower their grads with gifts. According to a BIGResearch survey for the National Retail Federation, Americans will spend approximately $4.5 billion on graduation gifts this year.

And what do graduates can expect? Most popular gifts are gift cards (31.3%) and cash (58.8%) will be the most popular graduation gifts, while tangible favorites like apparel (9.1%) and electronics (11.5%) will take a backseat. In addition to gifts, many consumers also plan to give a greeting card (35.7%).

The survey also revealed that one-third of Americans will purchase at least one graduation gift this year. The average consumer buying graduation gifts plans to give a gift to two graduates this year and will spend about $50 ($51.05) on each present.

“For students heading off to college or moving out into the real world, cash and gift cards are the ideal graduation present,” said NRF President and CEO Tracy Mullin. “Retailers can expect to see a nice bump in sales later this summer as students redeem gift cards and make big purchases with graduation money.”

Parents and grandparents will spend the most on graduation gifts this year, with the average American over the age of 45 spending over $110 on gifts.