While flowers and chocolates never go out of fashion on Valentine's Day, true romantics are stocking up on engagement rings to propose to their partners on Thursday.
Shiels Jewellery director Toby Bensimon said most of their engagement ring sales occurred in the Valentine's Day period.
And though the number of couples shopping for rings together was on the rise, Mr Bensimon said most men were still going out on a limb and choosing the ring for their partner. "A lot of guys really don't have a clue," he said. "They don't even know what type of gold she wears, so they tend to take their partner's friend with them."
Mother-of-two Rachel Franco, 29, said her partner Nick Price, 30, took the plunge and picked something out for her on his own.
Ms Franco, who was excited about spending her first Valentine's Day with her new fiance, said Mr Price picked out the $4000, one-carat diamond ring but made her go into the jewellery shop to get it fitted.
Business information analysts at IBISWorld said Australians were expected to spend about $936 million in the lead-up to February 14, a 3 per cent increase on last year.