Super Bowl week is underway in New Jersey, and an estimated 181 million viewers won't be sparing any expense when it comes to watching the Denver Broncos and Seattle Seahawks on television Sunday night.

Jamie Squire, Getty Images

The average person will spend an average of $68.27 on snacks, athletic wear and decorations for the big game, according to the National Retail Federation's Super Bowl Spending survey.

Total spending is expected to reach $12.3 billion.

"The Super Bowl has become something that many consumers look forward to as a way to celebrate with their friends and family," said Kathy Grannis, NRF spokesperson. "When it comes to those who are most likely to celebrate, there is no question that young adults top that list. But, we were very surprised this year to find that 45- to 54-year-olds say the game itself is the most important part of the Super Bowl, and they are going to be spending on food and entertainment as well."

According to the survey, more than three-quarters, or 77 percent, will buy food and beverages, 8.1 percent will purchase team apparel or accessories and 7.2 percent will buy a new television to watch the game with friends and family.

"Whether they are buying a television specifically for the game or they're buying because they know this is one of the best times of year to get a great deal on a new television, this year about seven million people will buy a new TV for the Super Bowl," Grannis said.

About 39 million viewers will throw a party on Sunday, and 62 million plan to attend a party. Restaurants and bars will also see their share of fans, about 10 million of which plan to enjoy the game from their favorite local establishment.

Young adults, the top partying group according to Grannis, are more likely to attend a party than to throw one. But when it comes to spending, 18- to 24-year-olds will spend an average of $92.83 on Super Bowl-related celebrations and 25-to 34-year-olds will spend the most, about $101.51.

For more on the survey, visit www.nrf.com.