But many cash-strapped Brits have taken to gift recycling - a practice which could cut down on all of the above.
In a survey of 3,000 women by Birchbox, nearly 50 per cent admitted they would be passing on unwanted gifts as presents this year, freeing up a little extra cash for their rest of their Christmas shopping.
Understandable when you consider that the poll also revealed the average spend this year will be £556, a budget designed to cover present-buying for ten people.
With all the rushing around that comes with the Chrimbo build-up though, many of us haven't got time to put a great deal of thought into our gifts.
And while only one in four women wanted to receive beauty-related items, 56 per cent were planning on handing out beauty gifts to other women this year.
There's one thing we won't scrimp on, however, and that's wrapping paper. While many will be giving hand-me-down presents, 64 per cent believe it is rude to recycle wrapping paper.
Will you be recycling Christmas gifts this year? Leave your comments below...