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Closing Bell
Closing Bell Overtime: Black Friday Edition 11/24/23
Nov 24, 2023
Economists Barry Knapp and David Bahnsen discuss the recent market rally and predictions for the upcoming year. Retail analysts Brian Nagel and Olivia Tong share their holiday shopping lists. Amit Daryanani talks about Apple's declining iPhone sales in China. Other topics include OpenAI drama, Black Friday trends, and Novo Nordisk's expansion into Japan.
43:58
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Quick takeaways
- Social media advertising is expected to play a significant role in driving online shopping visits this holiday season, with platforms like Pinterest, Meta, and Snap partnering with Amazon to allow direct purchasing from their ads within those apps.
- Amazon's live streaming of the first-ever Black Friday football game on Prime Video demonstrates their strategy of combining content and commerce seamlessly to convert viewers into advertising and retail customers.
Deep dives
Social media advertising driving online shopping visits
Social media advertising is expected to drive 10 times more online shopping visits this holiday season compared to traditional marketing. Platforms like Pinterest, Meta, and Snap have partnered with Amazon, allowing users to buy directly from Amazon ads within those apps. This partnership aims to provide personalized ad experiences and increase online shopping through social media platforms.
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