Shopify Merchants Smash Records with Black Friday Bonanza

Shopify Inc SHOP merchants accomplished a record-breaking $4.1 billion in sales on Black Friday, marking a 22% increase from the previous year. 

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Sales peaked when collective sales reached $4.2 million per minute at 12:01 p.m. EST.

The most popular product categories among consumers were clothing, personal care items, and jewelry, indicating strong demand in these sectors.

Shoppers spent an average of $110.71 per cart, showing a consistent spending pattern when adjusted for currency fluctuations.

The U.S., U.K., and Canada led the sales, emerging as the top countries where consumers actively participated in Black Friday shopping.

Regarding city-wise sales, Los Angeles, New York, and London topped the list, reflecting their status as significant consumer hubs.

Notably, 15% of orders were international, highlighting Shopify's merchants' global reach and appeal.

A significant increase in sales was observed through Shopify's Point of Sale (POS) system, with a 33% rise compared to the previous year, indicating a growing trend in omnichannel retailing.

Last week, Adobe Inc ADBE Adobe Analytics reported that U.S. online spending on Thanksgiving reached $5.6 billion, up by 5.5% year-on-year. Salesforce, Inc.'s CRM global online sales data showed a 1% growth in the U.S. to $7.5 billion. 

Price Action: SHOP shares closed lower by 0.86% at $70.35 on Friday.

Photo Via Company