Valentine's Spending to Hit $17.6B

February 13, 2012 Updated Feb 13, 2012 at 8:18 AM EDT

By WKBW News

February 13, 2012 Updated Feb 13, 2012 at 8:18 AM EDT

Love will cost you about $126 dollars this year! That's what the average person celebrating Valentine's Day is expected to spend!

The National Retail Federation says they expect consumers to spoil friends, family and loved ones. About 60% of consumers will celebrate Valentine's Day.

The 2012 survey shows that the average person will spend that $126. It's up about ten dollars per person from last year's spending. It is the highest in the survey's ten year history.

But men are expected to spend $169, nearly twice as much as women, who are at $86. Total Valentine's Day spending is expected to reach $17.6 billion. Researchers say that shows the economy is moving in the right direction.

So what are people buying? More than half of consumers say they'll buy candy. 36% will buy flowers. The same number will treat a loved one to a dinner out. About 20% buy jewelry and 13% will go with gift cards. Greeting cards are also big sellers at Valentine's Day.

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