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Hurun Report. Spending on gifts in particular also declined by a quarter.Current Fashion Trends For 2012The world of fashion is always changing, and sometimes it can be hard to keep up. High end fashion houses release new lines each season with a whole new range of styles, colors, themes and trends. Normal stores at the mall also bring out new lines each season, and they often take inspiration from the high end fashion houses. Although it may be somewhat difficult to keep up with the ever changing trends, it allows each season to bring exciting and fun new additions to your wardrobe. Starting out at the beginning of the year, the fashion world has already revealed some exciting trends for 2012.Peplum accents are the must have trend this season. Whether it is a peplum skirt, a peplum blouse, or even a peplum dress, this style has dominated the catwalks this season. Designers including Vera Wang, Jason Wu, Zac Posen, Yves Saint Laurent and Dior all showcased designs that featured peplum accents, and clothing stores like Zara are soon to follow suit this season.Pastels were a huge trend on the runway this season. Baby blues, pinks and yellows were featured prominently on this year catwalk. Light hues