If you have affluent clients on your holiday shopping list, you may want to pay a visit to a charity-or even a pet store.
A recent survey by JPMorgan Fleming found that 46% of affluent people
surveyed say they would prefer to receive a charitable gift or donation
in their name, rather than a traditional gift.
The survey also found that 57% of the affluent-defined in this case as those with more than $500,000 in investable assets-like to give toys and treats, and even clothes, to their pets for the holidays.
"Fruitcakes and figurines, especially ceramic dogs or ceramic pigs, top the list of gifts to avoid," the survey's authors say. "Other items to stay away from include 'purple nighties,' Chia Pets and underwear."
Their mean holiday shopping budget is $2,300, and 62% say they give financial gifts during the holiday season, mostly in the form of cash or checks.
The most sought-after holiday gifts among traditional items were electronics gadgets, including the Apple iPod, laptop computers, digital cameras and plasma television sets.
The survey consisted of telephone interviews of a national random sample of 300 people.