Love may be in the air this Valentine's Day, but is there any money in the bank?

From dining out to roses, Valentine’s Day usually offers a boost to most retailers, but this year spending for the romantic holiday will be down by nearly 6%, according to the National Retail Federation. To beef up sales, retailers are giving out more incentives to shop, especially for those making purchases online.

“People are being incentivized to get creative with the Internet,” said Hillary Mendelsohn, online shopping expert with PayPal. “Because there are endless possibilities for shopping online, people aren’t looking at traditional stuff like flowers and candy.”

Mendelsohn said discounts could be found on items including travel, with up to 55% off rates at Hotwire.com, on jewelry, with $50 off purchases of $300 at Zales.com (ZLC), and on finding love, with 20% off a 6-month subscription to eHarmony.com.

But people are looking online for more than just gifts; according to Hallmark Cards, e-cards continue to grow in popularity as an instant and often free way to connect during holidays. Valentine’s Day is no exception, and this year the card company expects one e-card to be sent for every 20 paper cards, according to spokesperson Sarah Kolell.

Kolell referred to Valentine’s Day as a “last minute” holiday, and said that the vast majority of sales at Hallmark will take place the day before.

And it’s not just men who’ll be last-minute shoppers this year; women will represent a larger portion of Valentine shoppers than ever before, according to PayPal. The most popular gifts for women to give men include gift certificates to entertainment events, gadgets and electronics.

While a new electronic item might cost more than a dozen roses, men are still expected to spend more on women this year — by nearly double. According to the NRF, men will spend an average of $135 on their ladies, while women will spend around $72.

At Field of Flowers, the largest private flower retailer in Southern Florida, owner Donn Flipse said he expects sales this year to be better than last, even though prices have remained the same.

“What will happen this year that hasn’t happened since 1999 is that Valentine’s Day falls on a Sunday,” said Flipse. “When this happens, our delivery business suffers a bit because a lot of men like to deliver their floral arrangement at a woman’s office. If she isn’t going to be there, they are more likely to do something else, like take her to dinner.”

Flipse expects to have a strong walk-in carry-out business at all three locations on Saturday and Sunday that will offset a possible softness in the company’s delivery business. The company expects to fulfill around 10,000 orders for flowers, 15% of which will be out-of-town orders filled through partner sites of FTD.com and BloomNet.com. The remaining 85% will be from local customers, both walk-in and delivery orders.

For those looking to buy last-minute items leading up to Sunday, all hope is not lost. Online retailers have realized the need to step up last-minute shipping options, and in many cases sites will offer next-day delivery for a few dollars more than traditional ground service, Mendelsohn said.

“Around any type of event or holiday, sites want your last-minute business, and there are shipping deals to be had at most companies,” said Mendelsohn.

As for what’s on the list for most lovebirds this year, the practical has trumped the frivolous, according to the NRF. Sales of clothing items will be up 4.2% this year, while jewelry sales will be down by 0.5%.

And for those cynics who say that Valentine’s Day has gone to the dogs — they’re exactly right. Spending on pets will be up by more than 50% this Valentine’s Day over last.