US jewellers are preparing for a profitable month ahead of a surge in demand on Valentine's Day, according to a new survey.

While spending is expected to dip from last year's figures, a National Retail Federation (NRF) survey suggests that Valentine's Day could prove to be a good time for the industry.

In what is the third biggest holiday for retail spending, consumers indicated that jewellery was the fifth most popular gift for this year's romantics.

The NRF's Valentine's Day Consumer Intentions and Actions Survey, undertaken on behalf of the organisation by BIGresearch, indicated that each consumer will spend $97.27 on Valentine's Day on average - a small dip from the $99.24 spent in the previous year.

Nevertheless, one in five consumers - or 18.4 per cent - say they will be snapping up jewellery this year, with a two per cent rise also recorded in the number of people planning to mark the event this year.

The popularity of jewellery is likely to provide succour for retailers, who traditionally target the day as a sales bonanza.

One US-based firm has already outlined plans to exploit platinum's popular appeal in one of the more unusual Valentine's Day jewellery gifts on offer - real long-stem roses and orchids in a coating of platinum.