The joy of a physical gift usually fades after a few days, once it becomes a familiar part of the home. An experience, by contrast, grows in memory over time, because we retell it and relive it every time we tell it.
Experiences have a second advantage: they are usually lived with others. A trip with a friend, a workshop with your mother, an evening with your spouse — the gift becomes a bond rather than an object.
When you choose your next gift, ask yourself: what would this person love to live? Not what are they missing. The answer is usually simpler than you expect: a cup of coffee somewhere beautiful, or two hours learning something new.