It is common to bash the customary gift slinging from Chosson to Kallah and vice versas, and to reassure friends and families that these things are not musts, they are unnecessary, and that you are doing society a favour by not conforming.
This is not true.
Of course, there is no obligation to conform to societies standards. But your kallah/chosson is expecting to be treated at worst no less than the norm. Failing to live up to expected standards displays a lack of sensitivity or care. If you have an open enough relationship, or are the type to recompesate in your own way so that she knows you do care, then fine, do what you like. But if she is going to feel unloved and devalued, you may want to re-weigh the gains versus the losses.