PriceGrabber: Most consumers will show love by spending less than $100 on Valentine's Day gifts

LOS ANGELES — Many Valentine's Day shoppers are sticking to a budget this year with 68% of consumers spending less than $100 on gifts, according to a new PriceGrabber survey.

The latest survey, which polled more than 790 consumers, found that 56% plan to spend the same amount as in 2011, 20% will spend more that last year, another 20% will spend less than they did in the year-ago period and 4% will not purchase a gift this year. When it comes to what Valentine's Day items that would be purchased, 35% said they would purchase a greeting card, followed by an evening out, candy, flowers, themed gifts, clothing, jewelry and electronics.

When it comes to where gifts will be purchased, 54% of consumers indicated that they will buy gifts in a brick-and-mortar store, while 34% will shop online, 2% will shop using a mobile phone, and 1% will shop using an electronic tablet.

Meanwhile, savings is on the mind of 42% of shoppers, who said they plan to use a daily deal site to shop for a gift.

"PriceGrabber anticipates that shoppers will spend about the same amount on Valentine's Day this year as they did in 2011," PriceGrabber general manager Graham Jones said. "Valentine's Day is a very consistent holiday that presents an opportunity for consumers to show affection for a loved one on a more reasonably priced scale than during the holiday season, and we expect shoppers to take full advantage of discounts that will be available online, in brick-and-mortar stores and via a mobile device."