I can't say we saved a lot of gifts, as DH and I agreed to give big presents in October to the kids, and smaller presents for Christmas... but we did the following:
1) Cut down presents and stocking / small presents to family to a modest amount. A lot of useful clothing and toiletries as presents and in stockings... DH has been a bit crazy in the past.
2) Lack of going out to eat. Christmas shopping was also reduced, so we had time to just enjoy.
3) Hosted family dinner for 10 people. Eating lots of leftovers is pretty cheap, others brought the wine and fancy chocolates.
4) Don't go out. Board games and video game (fallout4) is the family entertainment.
5) Except - we did take kids skiing one day, but one day only, on discount pass, reused voucher, and this will hold them off asking for a while. No additional ski equipment purchased for once, we mixed and matched to make things work.
6) Bought a tree (grocery store), and a spool of ribbon, and finally was low enough on wrapping paper to buy something new that I like. Otherwise, no decor purchases, no light purchases.
7) Used my time off (from no vacation out of town, reduced skiing, and no going out) to do small repairs and maintenance around the home (patched the vacuum, for example).
So -- moral of the story
Reduce shopping and christmas activities == more free time == more relax and enjoy == happy == less spending