Essentials here were
Baby bouncy chair
Changing mat, folding changing mat
Baby grows and vests, nappies and wipes
Sudocrem
Lanolin nipple cream
Underarm thermometer
Muslins
Light fleece baby blanket
Car seat
Pram
Baby bath
High chair and later on some rip off stoke trip traps
Bibs - plastic, for weaning
Tommee tippee cup
Washable cheeky wipes for hands and faces - useful for at least 5 years
Everything was second hand, except the pram.
We used our baby bath a couple of times a week at least and my 4.5 year old still uses it so that was definitely useful. It fills in less time than it takes to take the clothes off the toddler. Seems massively wasteful to run a whole bath for a baby, and what baby wants to sit in a cold slippy sink on a plug? A baby bath is also safer as it supports them and with ours, once they are like 1.5 they can't drown in it due to the shape. We put it in the main bath.
Cots and furniture it depends on your house, how much space etc. we are very tight for space so had to juggle different sized cots at different times. If you have more space just get the big stuff from the start.
Prams and pram suits and slings it depends on your lifestyle. I can't imagine life without a pram ! Presumably people who don't use one drive everywhere. My older child couldn't reliably and quickly walk 1.5 miles into town until at least 3 years. She's a much better walker than most children we know. A sling is handy for a small baby but not so much a heavy 1 year old. Plus where do you put your shopping, library books etc. We use our pram daily, my younger child is 2.5. My older one is 4.5 and doesn't need it but sometimes if it's raining on the way to school they both squeeze in to keep dry. We have a baby jogger city mini GT. It's a mid range one, lightweight, folds one handed, but sturdy enough for bumpy off-road walks. Wish I'd had a cup holder for the pram!
if you're spending much time outside you need a pram suit. If just transferring from car to indoors then not. There are different styles of pramsuit, ours was very easy to put on, wide arms and legs, slippery material inside, zip up.
We have an ergobaby and didn't get on with it. I prefer a structured backpack carrier once they are old enough - again depends on lifestyle but if you are walking in areas with loads of steps such as underground trains or obviously the countryside, they are good.
A stretchy wrap sling was useful in the early days although neither of my babies loved it. Wouldn't say essential.
Breastfeeding bras - wait till baby is born and get fitted as size is unpredictable. Breastfeeding clothes - I didn't want to spend money on this but in hindsight it would have been a boost to have a couple of nice things to wear not just saggy old clothes. Wait till baby is born and you know size if buying new.