Total spending may also reach up to $14.7 billion this year, compared to $17.02 billion last year, according to the National Retail Federation. 

Last year, consumers spent slightly less money on traditional gifts than in years past, opting instead for a night out. But now, with the current economy in mind, these couples simply just want to save, as president and CEO Tracy Mullin realized. 

“A bad economy won’t stop Cupid this Valentine’s Day, but it might slow him down,” she said in a statement. “This year more than ever, consumers will look for creative and inexpensive ways to show those they love how much they mean to them.” 

But as they plan to spend less, the traditional Valentine’s Day gifts remain the most popular: candy, flowers and jewelry. More people also intend to buy the standard greeting card compared to last year – specifically 58.0 percent, up from 56.8 percent.

For such gifts, consumers plan to spend an average of $102.50, down from last year’s total of $122.98. Consumers ages 35-44 plan to spend the most, $119.19, followed by those ages 18-24, with $113.68.

There’s a tradition in my family that for any occasion that warrants a card, especially birthdays, the meaner the card is the better. We often try to out do the other contenders and the result is often big laughs. The more insulting the card, the more you’re loved–we have an understanding.

We’re not the only people who share this fun, albeit unusual, tradition and with Valentine’s Day upon us, it appears that businesses are beginning to cash in on this quirky trend. For example, American Greetings Corp. has an entire category of "Anti-Valentine’s Day" cards.

And they’re not the only ones capitalizing on the anti-Valentine’s Day theme. Other businesses are coming up with unique ways to promote their businesses such as a bowling alley in Cleveland hosting a "Love…Spare Me!" event and clothing and merchandise stores selling t-shirts and stickers promoting "single awareness."

So the next time a popular holiday rolls around, try a variation on the theme…you might even start a new trend!

Valentine’s Day Shopping Statistics for the U.S.:

* Consumers now spend an average of $100.89 on Valentine’s Day gifts (from the National Federation of Retailers).

* 62% of consumers purchased at least one card, 47.1% purchased candy, 42.1% paid for dinner or a night out (from the National Federation of Retailers).

* Florists sold over 189 million roses (from the Society of American Florists).

* Chocolate retailers sold over 36 million heart-shaped candy boxes (National Confectioner’s Association).

What can retailers do to claim their share of consumers’ Valentine’s Day spending?

Start your marketing early – Valentine’s Day seems to come so quickly after the new year that it’s one of the most notorious holidays for “last minute gifts”. So, why not snag some early sales by reminding your visitors about the holiday – in January? Start offering Valentine’s Day specials toward the end of January – come February 1 your store should be completely decked out with a Valentine’s Day theme – pink hearts, purple balloons, whatever it takes to get consumers to say “oh right, Valentine’s day is coming!”.

Romance your customers – Have a wide selection of Valentine’s Day gifts organized in displays that are both logical and pleasing to the eye. Try to recreate “romance” as best you can within your display. In order to get your customers to purchase their V-day gifts from you, you’ll need to get them in the right mood first. Consider having certain products grouped together in gift baskets – there are plenty of customers who want to get their special someone something nice, but they don’t know where to start. Gift baskets offer a beautiful presentation of gifts that go well together.

Add to your product line-up – Consider adding some additional romantic gifts that complement your current offering. No matter what you sell, you can always find romantic gifts that target your audience – stuffed animals, fragrances , lingerie , and balloons are just a few ideas. Think like your customers and do the research to find Valentine’s Day gifts that will fit in with your current product line-up.

The same things go for online stores. Break out the pink, red, white and purple colors, and hearts and cupids too. If you don’t literally force Valentine’s Day on customers then there’s a good chance they won’t think of it or even be in the mindset to buy their gifts from you. Grab visitors’ attention with specials, gift packs and more. Be creative in your Valentine’s Day marketing – send out an email campaign, spice up your online ads – there’s plenty that can be done to get the word out to your customers that you have the perfect gift for their special someone.