Businesses offering heavy discounts to clear out excess inventory and shoppers anxious about supply shortages helped produce a Black Friday weekend that appeared to be the biggest ever, Meta's Nicola Mendelsohn said ReutersNEXT
business group said on Wednesday that the holiday shopping season started earlier than usual this year and produced a Black Friday sales weekend that appeared to be the biggest on record.
Consumers anxious about supply shortages were stocking up early on desired gifts, while businesses with excess inventory sought to clear it out with heavy discounts, said Meta Vice President of Global Business Nicola Mendelsohn, speaking in an interview at the"We're seeing that there are more and more deals, and so we're helping obviously to connect advertisers to be able to reach the people that matter to them," she said.
The holiday ad sales could be a welcome respite for Meta, which has been struggling this year as advertisers and consumers pulled the plug on spending amid soaring costs and rapidly rising interest rates.Vice President for the Global Business group at Meta Nicola Mendelsohn speaks during a Reuters NEXT Newsmaker event in New York City, U.S., November 30, 2022. REUTERS/Brendan McDermid
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