Grad retail sales should hit $8 million

The Retail Association of Nevada says spending on graduates should generate upward of $8 million in retail sales this year.

Spokesman Bryan Wachter said that will be a record for “cap and gown” sales in the Silver State.

He said a recent survey by the National Retail Federation predicted consumers would spend an average of $102.51 on graduation gifts, generating a total of $5.2 billion in sales nationwide. According to that survey, the gift of choice for more than half of those who responded — 54.8 percent — is cash.

UNR and UNLV awarded more than 6,000 degrees this month. In addition, high schools around the state are expected to award nearly 30,000 students diplomas this next week.