Survey: Valentine’s Day spending expected to reach $27 billion

(CNN)– People are expecting to shell out some big bucks this Valentine’s Day.

According to the National Retail Federation, shoppers plan to spend an average of nearly $189 on the holiday.

That’s up by about a $3 average over last year.

In total consumers are expected to spend a record of $27.5 billion on this year’s Valentine’s Day.

The survey suggests the spending bump could be due to more people planning to celebrate  the holiday.

As for gifts, the most popular category this year is candy followed by flowers, greeting cards, and an evening out.