Americans spend quite a bit of money on Valentine’s Day. With 62 percent of adults celebrating the holiday and 23 percent of adults purchasing flowers, according to The History Channel, showing our love on Feb. 14 is doing a lot for the economy.

Total money spent

Believe it or not, it is estimated that Americans will spend \$17.3 billion billion on Valentine’s Day related items this year.

Source: National Retail Federation

Average spent per person

The average person celebrating the holiday (over the age of 18) will likely spend \$133.91.

Source: National Retail Federation

Amount men spend

The average amount of money men spend on Valentine's Day on gifts overall is around \$150, according to The History Channel's website. This year, however, The National Retail Federation expects most men to spend closer to \$108.38.

Amount women spend

The average amount of money women spend on a Valentine’s Day on gifts is \$74, according to History.com. The NRF, on the other hand, expects women to spend \$49.41 this year. That's well below half of what men are expected to spend.

Candy

It is estimated that in 2012, \$1.6 billion was spent on candy for the holiday. This year, the NRF estimates that 48.7 percent of consumers will buy candy for their loved ones.

Chocolate

58 million pounds of chocolate is bought during Valentine’s Day week. With the average cost of chocolate at \$3.49 per pound, Americans spend roughly \$202 million on chocolate.

Source: History.com, Bureau of Labor Statistics

Sweethearts

Everyone loves Sweethearts, the little heart candies with messages on them. Eight billion are sold annually. With each one pound package averaging around \$4, that’s a whole lot of dough on Sweethearts.

Source: History.com, Candy Warehouse

Greeting cards

150 million Valentine’s Day cards are handed out each year. The average cost of a greeting card is \$2-\$4. That means Americans spend anywhere from \$300 million to \$600 million on greeting cards for the holiday.

Source: History.com, Greeting Card Association

Bubbly

\$8.6 million is spent on sparkling wine for Valentine’s Day, making it the fourth highest love drink holiday after New Year’s, Christmas and Thanksgiving. Some 174,000 gallons is sold throughout the week, according to History.com

Bling

\$4.4 billion is the amount people will likely spend on diamonds, gold and silver, according to CNN. The NRF estimates that just under 20 percent will go for jewelry this year.

Flowers

In 2012, Americans are estimated to have spent \$1.9 billion on flowers for the holiday. This year, the NRF expects close to 40 percent of consumers to celebrate with flowers.

Fluffy and Rex

\$4.52 is the average amount pet owners spent in 2012 to dote on their pets for Valentine's Day, according to CNN. This year, the NRF expects 19.4 percent of Americans to spend an average of \$5.51.

Will you marry me?

While the amount of money spent on Valentine’s Day is set to decrease, the amount of marriage proposals is set to increase, with an expected 6 million engagements for the holiday. On average, Americans feel that \$2,410 is an appropriate amount to spend on an engagement ring.

Source: American Express

Online shopping

Also according the NRF report, 26.1 percent of shoppers will choose to buy their gifts online this Valentine's day. The study also says that 56 percent of consumers will research gifts and compare prices on either a smart phone or a tablet device.