We don't traditionally celebrate this but it's so popular that shops and stores are bursting with heart-shaped chocolates and heart-shaped stuffed toys, red flowers, etc. Restaurants also have Valentine's lunch or dinner proposals.
So, those people who decide to celebrate, usually give each other sentimental gifts (mostly heart-shaped stuff) and go out for dinner. Oh, the wine is being drunk because our traditional holiday here is the day of wine so both combine very well