I'm fortunate, with the things my family are going through right now we agreed to just pick one name and spend $25 on that person.
All my friends have agreed to completely not exchange gifts this year, but rather just spend some time together over the holidays.
As a result my Christmas will be a stress-free experience. One gift is all I need to purchase and I've already done that.
We almost did this last year too, the family had just heard about the cancer with my Dad and we were pretty upset, so we did the one-gift thing. It was probably the best Christmas I've ever had. It had nothing to do with gifts, it was all about the people. I hope it becomes our new tradition.
Plus, I HATE crowded stores, so no matter how good the price I wouldn't venture in to one tomorrow. I'll gladly pay full price a month earlier and avoid the crowd.