Shopify Merchants Drive Record-High $9.3 Billion in Black Friday-Cyber Monday Sales

Rhea-AI Summary

Shopify Inc. (SHOP) announced that its merchants achieved a record $9.3 billion in sales over the Black Friday Cyber Monday weekend, marking a 24% increase from the previous year. The company reported that more than 61 million consumers globally purchased from brands powered by Shopify, with sales peaking at $4.2 million per minute. The top product categories were apparel and accessories, health and beauty, and home and garden, with an average cart price of $108.12. The U.S., U.K., Australia, Canada, and Germany were the top selling countries, and Los Angeles, New York, and London were the top selling cities. Additionally, cross-border orders represented 15% of all global orders, and Shopify funded over 56,000 tonnes of carbon removal to counteract shipping emissions. The company also reported a 60% year-over-year increase in sales made via Shop Pay, with over 17,500 entrepreneurs making their first sale on the platform and more than 55,000 merchants experiencing their highest-selling day ever on Shopify.

Internet, Everywhere--(Newsfile Corp. - November 28, 2023) - Shopify Inc. (NYSE, TSX: SHOP), a provider of essential internet infrastructure for commerce, announced today that Shopify merchants reached a record $9.3 billion in sales* over Black Friday Cyber Monday (BFCM) weekend - a 24% increase from last year.

From early Friday in New Zealand to late Monday in California, more than 61 million consumers globally purchased from brands powered by Shopify.

Shopping peaked when collective sales reached $4.2 million per minute at 12:01 p.m. EST on Black Friday.

"Watching entrepreneurs make their first sale and seeing established brands reach new highs on Black Friday-Cyber Monday was incredible," said Shopify President Harley Finkelstein. "Our merchants spend all year building relationships with their customers and earning brand trust. This weekend was a testament to how they consistently deliver experiences and products that global consumers are looking for."

BFCM highlights from Shopify merchants

• Peak sales per minute: $4.2 million at 12:01 PM EST on Nov. 24.
• 61 million consumers globally purchased from Shopify-powered brands.
• Hottest product categories: apparel and accessories, health and beauty, and home and garden.
• Average cart price: $108.12 ($107.53 on a constant currency basis).
• Top selling countries: U.S., U.K., Australia, Canada, and Germany.
• Top selling cities: Los Angeles, New York, and London.
• Cross-border orders represented 15% of all global orders.
• 56,000+ tonnes of carbon removal funded by Shopify to counteract shipping emissions.
• 60% year-over-year increase in sales made via Shop Pay.
• 17,500+ entrepreneurs made their first sale on Shopify.
• More than 55,000 merchants had their highest-selling day ever on Shopify.

About Shopify
Shopify is the leading global commerce company that provides essential internet infrastructure for commerce, offering trusted tools to start, scale, market, and run a retail business of any size. Shopify makes commerce better for everyone with a platform and services that are engineered for speed, customization, reliability, and security, while delivering a better shopping experience for consumers online, in store and everywhere in between. Shopify powers millions of businesses in more than 175 countries and is trusted by brands such as Mattel, Gymshark, Heinz, FTD, Netflix, Kylie Cosmetics, SKIMS, Supreme, and many more. For more information, visit www.shopify.com.

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*Shopify's 2023 Black Friday-Cyber Monday data is based on gross merchandise volume (GMV) by Shopify merchants around the world from November 23 11:00 UTC to November 28 8:00 UTC. GMV represents the total dollar value of orders facilitated through the Shopify platform including certain apps and channels for which a revenue-sharing arrangement is in place in the period, net of refunds, and inclusive of shipping and handling, duty and value-added taxes.

All data presented here (including worldwide sales) is approximate and is based on various assumptions. All data is unaudited and is subject to adjustment. The methodology underlying the data may vary year on year and prior year results are not directly comparable to current results. All financial figures are in USD. Data represents online and offline sales made by Shopify's global merchants.

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CONTACT:

MEDIA:
Stephanie Ross
Lead, External Communications
press@shopify.com

INVESTORS:
Carrie Gillard
Director, Investor Relations
ir@shopify.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/188906

FAQ

How much did Shopify merchants achieve in sales over the Black Friday Cyber Monday weekend?

Shopify merchants achieved a record $9.3 billion in sales over the Black Friday Cyber Monday weekend.

How much did sales peak at per minute during the Black Friday Cyber Monday weekend?

Sales peaked at $4.2 million per minute at 12:01 PM EST on Black Friday.

What were the top product categories during the Black Friday Cyber Monday weekend?

The top product categories were apparel and accessories, health and beauty, and home and garden.

What were the top selling countries during the Black Friday Cyber Monday weekend?

The top selling countries were the U.S., U.K., Australia, Canada, and Germany.

What was the average cart price during the Black Friday Cyber Monday weekend?

The average cart price was $108.12.

How much did cross-border orders represent of all global orders during the Black Friday Cyber Monday weekend?

Cross-border orders represented 15% of all global orders.

How much did Shopify fund for carbon removal during the Black Friday Cyber Monday weekend?

Shopify funded over 56,000 tonnes of carbon removal to counteract shipping emissions.

What was the year-over-year increase in sales made via Shop Pay during the Black Friday Cyber Monday weekend?

There was a 60% year-over-year increase in sales made via Shop Pay.

How many entrepreneurs made their first sale on Shopify during the Black Friday Cyber Monday weekend?

Over 17,500 entrepreneurs made their first sale on Shopify during the Black Friday Cyber Monday weekend.

How many merchants experienced their highest-selling day ever on Shopify during the Black Friday Cyber Monday weekend?

More than 55,000 merchants experienced their highest-selling day ever on Shopify during the Black Friday Cyber Monday weekend.