Perion’s Black Friday eCommerce Search Volume Breaks Previous Record, Despite Overall Online Sales Dip
November 30 2021 - 6:00AM
Business Wire
More than 20M brand and product searches made
through Perion’s search partners
Perion 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.
Consumer 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.
This 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.
“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.
Mr. 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.”
About Perion Network Ltd.
Perion (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
positions Perion for growth as budgets shift across categories.
Forward Looking Statements
This press release contains historical information and
forward-looking statements within the meaning of The Private
Securities Litigation Reform Act of 1995 with respect to the
business, financial condition and results of operations of Perion.
The words “will”, “believe,” “expect,” “intend,” “plan,” “should”
and similar expressions are intended to identify forward-looking
statements. Such statements reflect the current views, assumptions,
and expectations of Perion with respect to future events and are
subject to risks and uncertainties. Many factors could cause the
actual results, performance or achievements of Perion to be
materially different from any future results, performance or
achievements that may be expressed or implied by such
forward-looking statements, or financial information, including,
among others, the failure to realize the anticipated benefits of
companies and businesses we acquired and may acquire in the future,
risks entailed in integrating the companies and businesses we
acquire, including employee retention and customer acceptance; the
risk that such transactions will divert management and other
resources from the ongoing operations of the business or otherwise
disrupt the conduct of those businesses, potential litigation
associated with such transactions, and general risks associated
with the business of Perion including intense and frequent changes
in the markets in which the businesses operate and in general
economic and business conditions, loss of key customers,
unpredictable sales cycles, competitive pressures, market
acceptance of new products, inability to meet efficiency and cost
reduction objectives, changes in business strategy and various
other factors, whether referenced or not referenced in this press
release. Various other risks and uncertainties may affect Perion
and its results of operations, as described in reports filed by
Perion with the Securities and Exchange Commission from time to
time, including its annual report on Form 20-F for the year ended
December 31, 2020 filed with the SEC on March 25, 2021. Perion does
not assume any obligation to update these forward-looking
statements.
Source: Perion Network Ltd.
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version on businesswire.com: https://www.businesswire.com/news/home/20211130005537/en/
Rami Rozen, VP of Investor Relations +972 52 569 4441
ramir@perion.com
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