Valentine's Day shoppers expected to spend less in 2009

— -- Valentine's Day has been a day to shower your loved one with expensive dinners, gourmet chocolates, flowers and gifts galore. But this year, it seems even love cannot completely conquer a weak economy.

Cupid-struck couples are expected to spend $20 less on each other this year, according to a survey conducted by BIGresearch for the National Retail Federation. On average, they'll spend $102.50 each, a 15.6% decrease from a year ago.

"Valentine's Day will be the first major holiday of 2009 to feel the economic pinch," says Robert Passikoff, president of New York-based Brand Keys, a consumer- and brand-focused research consultancy.

This year, $14.7 billion will be spent on Valentine's Day-related purchases, according to BIGresearch. Nearly 91% of people will spend the most, an average $67.22, on their significant other, with other family members such as children getting about one-fifth of the budget, $20.95. A few dollars will be spent on: friends, $4.74; children's classmates and teachers, $3.59; co-workers, $1.94; and pets, $2.17.

It doesn't pay to scrimp too much

Despite the slowdown, Loch Rose, vice president of analytics at ShopLocal.com, says he doesn't expect a complete halt for a few reasons.

For one, cutting back 25% on Christmas gifts overall could offer significant savings — $100 or more. Given the typical spending for Valentine's Day, a 25% cutback does not offer the same savings. At most, consumers will end up with a few extra bucks this month, Rose says.

Then there's the question of priorities: Is scrimping on your valentine really the best idea?

"You can disappoint Aunt Maple over the holidays by not giving her a gift, but if you disappoint your significant other on Valentine's Day, you're going to be hearing about it every day for a long time," Rose says.

"But it's not just about being afraid of not buying something for your girlfriend," said Clark Wolf, president of Clark Wolf Co., a food, restaurant and hospitality consulting firm. "Valentine's Day is a day to celebrate each other."