Would it be necessary to buy more gifts?

Today finally went to the Mall to buy some gifts for the family. Another thing is to go get the rewards I received in Victoria Secret and take advantage of the promotions from Body and Bath works too. I’ve used most of them but I’ve got more rewards/offers in return.  

This is also the time of the year that mostly household spent too much money on gifts. I have nothing against it, however it would also be practical to get one person one gift in order for them to value the gift they received.

Where I grew up, during Christmas the only gift I get from my parents was the new clothes and sometimes shoes which is for me to wear during our School’s Christmas Party. I have no intension of comparison but to get the thought, I value that gift my parents gave me.

My stances here are the lesser the gifts we give our kids during Christmas or Special Occasions the more they will value and respect those gifts. That way, if we can’t afford to buy them a gift because of financial issues they will understand so easily.

So my question is, would it be necessary to buy our kids more gifts?