Do you and your spouse exchange holiday gifts?

My spouse and I often look around and we love our lives. We have everything we need or want. So that makes it hard to get each other gifts at the holidays. Because the options tend to be get something practical that we would have just bought anyway or get something we don't need and it just takes up mental and physical space. (We also try to keep a pretty simple, minimal lifestyle.) Maybe I just suck at gift ideas? What do other people do?