In our extended family on mom’s side, it was never a thing to buy gifts for nieces and nephews. My mom was the youngest of seven, and five of her siblings also had large families of between four and nine kids each. We didn’t even get much in the way of presents from those grandparents because there were so many grandkids (I usually got a book, which made me happy). My dad, on the other hand, was an only child, so no extended family to buy for.
We didn’t cut back this year, but my shopping was finished when I found out my job was toast this week. So next year will probably be a year for cutbacks.