Online shoppers in Saudi Arabia and the UAE plan to spend $400 on average on Black Friday and Cyber Monday this year. The figure for the two GCC countries compares to a global average of between $230 and $300, according to the Global Black Friday Forecast conducted by consulting firm Simon-Kucher & Partners. Black Friday is an informal name for the Friday following Thanksgiving Day in the United States, which is celebrated on the fourth Thursday of November. The day after Thanksgiving has been regarded as the beginning of the United States Christmas shopping season since 1952 and has since spread to the rest of the world. The annual shopping festival is commonly known as White Friday in the region. Across all countries surveyed, respondents overwhelmingly indicate familiarity with Black Friday. ...read more...