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NEW YORK (CNN/Money) - Valentine's Day could be more "bitter" than "sweet" for retailers this year, with consumers expected to spend a little less than they did in 2004 on candy, flowers, jewelry and eating out.
According to the National Retail Federation's (NRF) "2005 Valentine's Day Consumer Intentions and Actions Survey," consumers, on average, will spend $97.27 on Valentine's Day, down from $99.24 last year. In all, total spending on Valentine's Day is expected to reach $13.19 billion.
The bulk of the budget is for their sweetheart, with the average person planning to spend $58.85 on their significant other or spouse. Consumers also plan to spend $21.49 on other family members, $5.42 on friends, $3.76 on children's classmates and teachers, $2.73 on co-workers and an additional $5.02 on other people, like neighbors and babysitters.
Greeting cards remain the most popular Valentine's Day gift this year, followed by candy and an evening out. Additionally, more than half of the men surveyed (57.8 percent) said they plan to buy flowers. One in five (18.1 percent) will shop for jewelry, the report said.
"With flowers, candy and dining out, consumers are looking to celebrate Valentine's Day in a very traditional way this year," NRF President and CEO Tracy Mullin said in a statement.
"While retailers have diversified their merchandise mix to include a variety of holiday-themed items, many consumers will be sticking to their tried-and-true holiday gifts," she said.
While they may spend less this year, more consumers overall, or about 61.8 percent, said they will celebrate Valentine's Day, compared to 59.8 percent a year ago.
The survey was conducted for NRF by market research firm BIGresearch and polled 8,076 consumers between Jan. 5-19. The poll has a margin of error of plus or minus 1 percent.
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