Hundreds of millions of Christmas gifts will be given and received this festive season – and nearly half of them will be unwanted.

[Read more: 5 ways to make sure you buy the right presents for your children]

But what can you do with all those unwanted gifts? Here are a few suggestions:

1. Sell them

If you want to make some money from your unwanted gift so you can buy something you really like, then sell it. Already eBay has seen over 3,000 listings of unwanted gifts with fragrance and toiletries topping the list.

eBay pinpoints December 29 as the best day to sell unwanted gifts online - as festivity is at its lowest.

The top listed items on eBay on Christmas Day last year were:

  1. Perfume
  2. Tablets
  3. Smartphones
  4. Frozen merchandise
  5. Soaps and lotions
  6. Women’s necklaces
  7. Women’s shavers
  8. Vacuum cleaners
  9. CDs
  10. DVDs

Alternatively, you could try selling unwanted gifts on Amazon or Gumtree.

[Read more: How I paid for Christmas by selling on eBay]

2. Regift them

 

Put your unwanted present in a cupboard with the rest of the family's unwanted gifts, and save them to give to other people in the future. After all, while you just didn't appreciate that poodle-shaped toilet roll cover, Auntie Beryl might love it.

Just be careful not to give the gift back to the person who gave it to you in the first place…

3. Return them

Take the gift back to the shop it came from, if you know which one it is and if you have the original packaging.

Some gift-givers include a gift receipt with their present in case you don't like it, but without a receipt or proof of purchase, you're not entitled to an exchange or refund.

However, many reputable retailers will offer a credit note, exchange or refund at this time of year – it's definitely worth a try.

Alternatively, of course, you could gently tell the gift-giver you don't really like the present, and ask for the receipt.

If your gift was bought online, you may need to ask the person who bought it to return it as there are special online regulations for returns.

4. Give them to charity

Charity shops will love your unwanted gifts even if you don't – why not do a good deed and give them away?

5. Transform them

You might not want to use your gift for the purpose it was given, but could you use it for something else instead?

Maybe that garish mug could be used to hold your make-up brushes (or paint brushes if it's really bad), or that awful floral T-shirt could go in the kids' dressing-up box.

6. Swap them

There are plenty of other people who don't want their gifts too, so why not try swapping yours for theirs?

There are a myriad swapping websites where you can swap or trade all sorts of unwanted stuff. Alternatively, have a bit of fun and organise a swapping party with your friends.