Madison Reed has raised $32.1 million since launching 15 months ago.
A new survey from online comparison shopping site Pricegrabber.com finds that nearly three out of every five consumers shopping for graduation gifts plan to do at least half their shopping on the web.
Among the consumers who plan to do more than half of their graduation gift shopping online, 41% will make less than half their purchases on the web, 34% will do more than half of their shopping online and 25% will do at least half their shopping online.
The study also found that among online consumers who plan to spend money on graduation gifts:
- 73% plan to give practical gifts to help graduates in the next phase of their lives, such as laptops, professional clothing and books about interviewing for a job.
- 15% plan to give indulgent gifts that graduates can enjoy.
Among the online consumers who plan to spend money on a graduation gift:
- 79% will compare prices as a strategy to save money when graduation shopping.
- 35% will use coupons as a strategy to save money.
- 32% of respondents will only buy gifts that are on sale to save money.
The study also asked online shoppers about their purchase intentions for Father’s Day.
Among the consumers celebrating Father’s Day:
- 36% will spend less than $25 on a Father’s Day gift.
- 27% will spend between $25 and $49.
- 15% will spend between $50 and $74.
- 22% will spend $75 or more.
The top three Father’s Day gifts are hobby-related items for golf, running and baseball (43%), entertainment gifts such as music, video games and movies (30%), and outdoor items such as barbecue tools (26%).
The graduation data come from a survey of 2,111 online consumers, while 2,564 online shoppers responded to the survey about Father’s Day buying intentions.