It seems like an archaic term, “keeping Christmas.” I remember it well from Charles Dickens' A Christmas Carol. And it does have a Dickensian quality to it.
But “keeping Christmas” is exactly what we do to ensure that Christmas has some meaning. It also suggests that Christmas does not keep itself. It is people who keep Christmas.
This doesn't mean everyone will think the same traditions will work for everyone. This is not a homoegeneous society. Not everyone who celebrates Christmas will be celebrating the same thing.
But those who celebrate Christmas as a commemoration of Jesus' birth must also keep Christmas. Christians practice spiritual disciplines such as prayer and reading the Bible, and I think there is an element of discipline in ensuring one does not become caught up in the commercialism of the season.
So in answer to the question, “Has Christmas lost its meaning?” I would suggest that it only loses its meaning when we forget to keep Christmas.
