Business
Perion’s Black Friday eCommerce Search Volume Breaks Previous Record, Despite Overall Online Sales Dip
More than 20M brand and product searches made through Perion’s search partners TEL AVIV, Israel & NEW YORK--(BUSINESS WIRE)-- Perion Network Ltd. (NASDAQ:
About this update from Perion Network Ltd
[{"type":"text","content":"\nMore than 20M brand and product searches made through Perion’s search partners\n\n TEL AVIV, Israel & NEW YORK--(BUSINESS WIRE)--\nPerion Network Ltd. (NASDAQ: PERI), a global advertising technology company that delivers a holistic solution across the three main pillars of digital advertising – ad search, social media, and display / video / CTV advertising – reported unparalleled growth in Black Friday consumer searches.\n\nConsumer searches on Perion’s network of publishers were higher across a variety of shopping categories, driving a significant increase in the number of consumers we have served, and in revenues generated over the Black Friday period.\n\nThis strong performance is particularly compelling in light of an overall softness in Black Friday online spending, which declined for the first time to $8.9 billion, according to Adobe Analytics. Perion’s record-breaking eCommerce numbers were even ahead of those it generated last year, when Black Friday broke its record for online spending, with a 21.6% increase over 2019.\n\n“Perion’s Black Friday search results demonstrate that we are able to capture high-intent consumers at the moment they are searching and making their buying decisions” said Doron Gerstel, CEO of Perion.\n\nMr. Gerstel added “This record-breaking performance follows our third-quarter results, where search advertising grew by 14%. Beyond the revenue contribution of eCommerce-related searches, our AI-based technology enables us to process intent signals and continuously optimize digital campaigns for our publishers and brand partners. What’s more, this massive amount of intent data gets integrated into our iHub – or “intelligent hub” – expected to drive Perion’s digital marketing flywheel effect.”\n\nAbout Perion Network Ltd.\n\nPerion (Nasdaq:PERI) is a global technology company that delivers holistic strategic business solutions that enable brands and advertisers to efficiently “Capture and Convince” users across multiple platforms and channels, including interactive connected television – or iCTV. Perion achieves this through its Synchronized Digital Branding capabilities, which are focused on high impact creative; content monetization; its branded search network, in partnership with Microsoft Bing; and social media management that orchestrates and optimizes paid advertising. This diversification pos...