Americans to spend nearly $18B for Valentine's Day

Americans will spend more on chocolates, candies and other holiday gifts this Valentine's Day than they did last year.

New research from the National Retail Federation predicts consumers will spend approximately $17.6 billion on the person they love this holiday. That total is up 9 percent from last year.

The total breaks down to about $126 per person, but men spend more than $80 more on the day than women. Men spend almost $169, while women drop around $86 on the special day.

The most expensive component of the holiday will be the gifts. People are expected to spend around $4 billion on shiny, dangly objects for their significant other. The ultimate sign of intimate gift buying, the gift card, is one of the most popular V-Day gifts.

A night out on the town will cost people across the country a collective $3.5 billion.

Most of this big spending will take place on a mobile device of some sort. According to the NRF, more than half of all tablet owners (53.8%) will use their device to research products, compare prices, redeem coupons, look up retailer information or purchase products. Four in 10 (40.4%) smartphone owners will use their mobile device to do the same.

Do you have grandiose plans for Valentine's Day? Tell us about them in the comment section of this story