Meta has seen its holiday sales arrive earlier than expected, indicating a shift in overall consumer behavior in the United States, according to Nicola Mendelsohn, Meta Vice President of Global Business, who said the holiday season triggered early Black Friday sales for the company.
According to Mendelsohn, the company’s Black Friday sales this year are unquestionably the highest on record, putting the current quarter’s potential revenue spree on a positive trajectory. According to her, consumers were concerned about supply shortages, which was understandable given how volatile the global economy has been this year.
While holiday ad sales could provide a welcome respite for Meta, which has been struggling this year as advertisers and consumers cut back on spending due to soaring costs and rapidly rising interest rates, it is unclear how far the effects would extend.
However, the increased demand created a need for targeted ads on the part of suppliers and business owners, and Meta Platforms saw an increase in patronage from this group of customers. According to Mendelsohn, the company used its platforms to assist business owners in targeting the right customers across multiple regions.
The sources for this piece include an article in Reuters.