We're trying to opt out of commercial Christmas as my children and I find it too much stress. We'd rather get the things we really need and want throughout the year as they come up rather than buy things for the sake of it just because it's Christmas.
This year we've had the house rewired, so their bedrooms will be redecorated. They're going to choose their own bedding and lamps etc as they're needed, rather than stressing about it for an arbitrary deadline and potentially going off them when the time comes.
I've got them a small stocking each, some pj's and a book, but they specifically asked not to get too much. Relatives go a bit overboard and they find it very difficult - reacting gratefully enough under pressure, getting things they're not keen on and feeling guilty that money has essentially been wasted, storing things that they might like somewhat, but that are still bulky and negatively change how they can use their space etc etc.
There's so much pressure on everyone, including children, to be part of this 'magical Christmas' created by marketing people to sell products. It's completely unrealistic for just about everyone for so many reasons. Finances, yes, but also personalities, time, and family dynamics. It's also not good for the planet. We can choose to opt out. I have hopes that excessive Christmas gifting will die like the giving of Christmas cards largely has.