If it's something they don't want, won't use, and will take up space in the back of a drawer or cupboard for a couple of years until it ends up in the bin, then what do you see it as if not waste?
By all means if you want to buy someone a "proper" gift (by which I mean something which is meaningful and will be appreciated), then great (although I'm not sure why Christmas is needed for that), but lets be honest here, for every decent gift given at Christmas, there will be countless pieces of overpriced & unwanted tat gifted due to people feeling obligated to do so.