- Shopify (SHOP) announced a record-setting Black Friday Cyber Monday weekend with sales of $7.5 billion from independent and direct-to-consumer businesses worldwide
- Peak sales of more than $3.5 million per minute were recorded at 12:01 PM ET on November 25, 2022
- 73 per cent of sales were made on mobile devices, and 27 per cent were made on desktop computers
- Shopify Inc. (SHOP) was down 1.81 per cent, trading at C$50.41 per share as of 4:15 pm ET
Shopify (SHOP) announced a record-setting Black Friday Cyber Monday weekend with sales of $7.5 billion from independent and direct-to-consumer businesses worldwide.
It was a 19 per cent increase in sales from the $6.3 billion during Shopify’s Black Friday Cyber Monday weekend in 2021 (21 per cent on a constant currency basis). Peak sales of more than $3.5 million per minute were recorded at 12:01 PM ET on November 25, 2022.
Black Friday Cyber Monday weekend is the highest volume shopping event of the year for Shopify merchants. More than 52 million consumers globally purchased from brands powered by Shopify this year, an 18 per cent increase from 2021.
The company recently surveyed 24,000 consumers globally and found that 76 per cent were seeking higher-quality products that will last, and 84 per cent planned to compare prices for the best discounts before making a purchase during Black Friday and Cyber Monday Weekend. 73 per cent of sales were made on mobile devices, and 27 per cent were made on desktop computers.
Shopify’s President, Harley Finkelstein, calls this a time where consumers “vote with their wallets to support the independent brands.
“We saw record level shopping happening across all channels this weekend, proving businesses that meet their customers where they are, whether that’s online or in-person, will earn their loyalty in return.”
Shopify is a provider of internet infrastructure for commerce, offering tools to market and manage a retail business of any size. Founded in Ottawa, Shopify powers millions of businesses in more than 175 countries.
Shopify Inc. (SHOP) was down 1.81 per cent, trading at C$50.41 per share as of 4:15 pm ET.
