Few times I've "gifted" a dinner, or some activity within a trip we take together they'd already be paying for, or consumables like good wine, or niche food from my home country. I can keep going but you get the point. When I couldn't afford much stuff, hanging out for an afternoon together and me paying for ice cream could be the gift. Maybe make your wishes known to your friends and adapt your own giving style.

In my experience "I don't give gifts because gift giving isn't efficient and here's a study proving my point" isn't conducive to fostering friendships.

If the people you hang out with think cat trinkets or socks are good gifts, I get why you became so jaded to it. Becoming the person that can give such gifts that are in the categories you appreciate, and cultivating friendships with others that do the same is way better approach in my view than just walking away from gift giving as a whole.