The Reason For The Season

Today I was invited to a Christmas party and was told that "wir werden an dem Abend wichteln," which can be translated as "we will wichteln in the evening." I had never heard the verb "wichteln" before, but I could understand from context that it had something to do with exchanging gifts. Well, I just looked the word up in an online dictionary and the only given definition is "to do a secret Santa." Say what you will about the deficiencies of the German language, but its precision cannot be impeached.