I hosted this year and said to everyone attending that there was no need to do gifts. Just bring a board game/ quiz they already have at home and any extra booze/ chocolates they might want in addition to what we already had bought. Everyone had a nice relaxed day and enjoyed themselves and gifting element was completely absent. (FYI no children involved, just adults).
I decided no gifts partly due to cost of living crisis and also as had so many years of giving and receiving gifts that are mostly unnecessary - socks, smellies, more chocolate etc. Nowadays I prefer to gift people things like tickets to something experiential (music, theatre) or something I know they really need, neither of which has to be on Xmas day. It might be midway through the year that I spot a nice event for example. I find this better than feeling pressured to get 'something to open' on Christmas Day, which will inevitably be a generic and unimaginative gift set from Boots or similar.
Has anyone else decided to do this? Maybe IBU to miss out this key component of Christmas but I didn't feel we missed out on much from having no Boots shower gel sets or Next socks to exchange with each other this year. Most people I know have no need for these typical token gifts so why waste money? Let's spend that money doing nice trips together during the year instead.
Obviously if there were children involved it would be different but even then I wouldn't want to be excessive. I've read so many threads and stories IRL of hundreds being spent on children each year with little gratitude back or appreciation of how lucky they are. I was quite spoiled myself as a child with gifts and a lot ends up as unused clutter in kids bedrooms.