J.W.
It's amazing how many generous people love your little ones and will give a small gift for Christmas, and if you have a family birthday party there will be several gifts. They won't remember who gave them what.
I remember a little saying that I am going to use this year - something they want, something they need, something to wear, something to read. 4 gifts that are meaningful can mean a lot more than 20 things to be forgotten!
Also, after they get all of their gifts, only let them take out a few new ones. Save the rest in a closet for a rainy day, a tough time, a trip...so there are new things throughout the year. It also makes it less overwhelming to have too much stuff at one time.