I definitely stockpile gifts!
I totally agree that it was easier when my kids were younger; for example, I have tucked away a Fisher Price airplane for my nephew (who'll be 2 next Christmas). There's little chance that a boy that age will dislike such a toy, and if it happens to be a duplicate, he can have it for his grandparents' house or his mom can re-gift it.
My girls are teens now, so their wants are quite different, but I can still pick up things throughout the year: necklaces or watches, art supplies, lotions . . . those are all going to be appreciated. I tend to find lots of little things for stockings throughout the year: air freshener for the car, fancy pencils, an umbrella that folds up to nothing, fancy socks. Even if you knock out stockings through clearance items, that's time and money that you don't have to expend at Christmas time (and I'm not sure which is harder to find in December, time or money!). Oh, and books; I know their taste, so I love to get them books -- often brand-new from ebay. And board games. That kind of thing isn't hard to choose ahead of time.
As for clothing, I buy when I see it on clearance, and I don't worry too much about whether it'll be on their list. Every present doesn't have to be exactly THE THING for which they were hoping. I tend to stick to fairly classic things, so a plain blue sweater, or a scarf/gloves set, or a pair of PJs -- they may not turn out to be THE PRESENT, but they'll still use them and enjoy them. I haven't raised them to think that every Christmas means getting everything they want!
I don't tend to buy things like CDs or video games (although my girls love those things) ahead of time because I don't want to end up with duplicate items, and those are the things that my teens might buy for themselves throughout the year. Also, I can remember that I bought a blue sweater . . . I can't remember which Jonas Brothers CD my girls wanted (or which one I bought for a birthday). That may just be me.
For my own kids, I do always wait 'til December and try hard to get them the 1-2 items that they really, really want. Although
every item doesn't have to be a bell-ringer, I do want to try to have
those couple special items.
Even for birthdays, I don't have a problem stockpiling things. Now that my girls are teens, I look for things like bracelets and earings on clearance. They're smaller to store than the Fisher Price airplane, and I always have something (that looks nicer than its pricetag) when my girls are invited to a birthday party.
As for it being harder to stockpile these days: I think this is true for two reasons. The first is obvious. We all are living on less these days. Whether you've been hit by rising insurance prices, job loss, or just general inflation, we're all in the same boat. The second reason is that stores seem to have less for clearance these days. I think they're ordering more conservatively. In years past, they'd order oodles of this-and-that, not wanting to run out, and if they clearanced some . . . oh, well. Now they seem to be ordering less because there's considerably less left after each holiday. They seem to be more concerned with being able to see as much as possible at full-price (or minor sale), and they'd rather tell a few people, "Sorry, we're out" rather than have 100 boxes that are marked down 75%.
If you're trying to stockpile, I think the answer is the same as it's always been: Budget a little bit for gifts each month, and buy when you find a good deal. If it's less than in the past, then it's less . . . but putting aside something now will make a difference in December.
What's helped me most is scaling back the number of adults we exchange gifts with. We stopped with all of dh's siblings and their families (my family does a lottery, which isn't bad) last year, which was great. We both have huge families and none of us need more junk.
I also feel no obligation to give every service person I have contact with a gift for doing their job. I always laugh when reading the threads that go something like:
I couldn't agree more! Christmas shouldn't be stressful, and we make it that way when we pressure ourselves to give the perfect gift and/or to give to everyone. Giving less allows more time for focusing on family time and Christ's birth.
If you feel that you must gift to every teacher, the bus driver, the scout leader, etc, etc, etc, I think the best idea is to make homemade goodies (everyone loves them) and DUPLICATE the items. If you're making cinamon bread, make it a whole Saturday and make loads of loaves. Don't try to make chocolate chip cookies AND gingerbread houses AND soup mix . . . pick one thing and repeat it.