Valentine's Day, also known as Saint Valentine's Day, is a holiday observed annually on Feb. 14 in many countries around the world, although it is not an official holiday in most.

In the U.S., Valentine's Day is traditionally celebrated with gifts, such as long-stemmed red roses and chocolate candies, and romantic dinners.

Consumers who plan to buy gifts for Valentine's Day this year will spend $96 on average, according to a survey conducted by Georgetown University's McDonough School of Business, which is a 46 percent increase from the $66 gift-givers said they'd spend last year.

"The data reveal that women tend to see Valentine's Day as an occasion where they have license to show affection to all the people who are significant in their lives," said Kurt Carlson, director of the Georgetown Institute for Consumer Research. "In contrast, men tend to see the holiday as a time to focus the spotlight on the one person with whom they are most intimate."

We have compiled a list of the hottest gifts this Valentine's Day and where to get them.

Valentine's Gifts for Women

Lingerie

Men can sometimes be shy about buying women's lingerie at the store, but it's a gift that makes a woman feel sexy and beautiful and leads to romantic rewards for the man.

Victoria's Secret has a treasure trove of lingerie to make that special woman in your life feel special and sexy. Choose from the romantic Satin and Chantilly Lace Babydoll for $52 or the racier Dream Angels Lace-Up Bustier for $128. If you shop online, today is the last day to take advantage of the free shipping and panty with any bra purchase using the codes SHIPBRAS and FREEPANTY. The company is offering $15 off $100, $25 off $150 and $55 off $250 if you use the code SPRING15 at checkout. Clearance items are excluded from the offer.

Lane Bryant is offering 40 percent off regular prices or 75 percent off clearance items if you use code CHICSALELB. The company's Seriously Sexy Lingerie line has a Caged Cup Babydoll for $49.95 and a French Maid Babydoll for $59.95 that is certain to spark passion on Valentine's Day and after.

Handbags

Kate Spade handbags are a popular gift choice for women this holiday.

Get the Kate Spade New York Holden Street Olivera Bag in the color pebble for $378.00 at Neiman Marcus.

Nordstrom has the Kate Spade New York Small Cedar Street Harmony tote for $268 in colors black, cabaret pink or clock tower.

Valentine's Day Gifts for Men

Technology and fashion are popular Valentine's Day gifts for men this year.

Technology

Samsung Galaxy Tab 4 - 7" 8GB in the color black, on sale $149.99 (regular price $199.99) at Best Buy.

Samsung Galaxy Tab Pro 10.1 16GB in the color black, on sale for $329.99 (regular price $399.99) at Best Buy.

You'll find the Bose SoundLink Mini Bluetooth Speaker in the color black from Best Buy for $199.99.

Men's Vests

Vests are a trendy fashion accessory for men this year, and we've found two popular styles on sale.

Macy's has the trendy EDGE by WD-NY Hooded Plaid Vest on sale for $29.99 (regular price $49.50).

Keep your man warm in the REI Co-Op Down Vest on sale for $54.93 (regular price $79.50). Choose from colors green, orange or blue.

For more last minute Valentine's Day gift ideas, check out our recommendations for inexpensive but memorable gifts, more gifts for him and personalized gifts.

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