How to gift at Christmas

I am debating on christmas.... do I buy my daughter lots of fun gifts? We almost never buy her toys unless its a holiday, for Easter she mostly gets activities. Her bday she gets a mis of gifts and activities... but I also know kids appreciate things more when they aren't spoiled. I feel like my daughter would play and enjoy her gifts more if we only bought her 4 fun gifts. Last Christmas we went pretty basic and her aunt got her a bunch of expensive toys that she didn't even really play with, I asked her what her favorite present was and she said it was her cotton candy perfume I got her. I kind of like spoiling people on Christmas for the experience and fun but then again I also feel you waste money in the end and kids don't play with toys as much when they have too many gifts. What will you do for your child for Christmas this year? P.s. my daughter is 4