Shopify does 2.4 billion dollars in Black Friday sales
Nov 30, 2020
Shopify has announced they did a record-setting 2.4 billion dollars in sales on Black Friday coming from over one million businesses across 175 countries worldwide. Shopify-powered businesses saw a 75 percent increase in sales compared to Black Friday in 2019. By 8 a.m. EST, Shopify already hit the 1 billion dollar sales mark.
New York, London, and Los Angeles were the top three cities for sales. The uptick in online shopping triggered by the coronavirus crisis was considered key for the growth in sales this year. With some cities even having shelter in place guidelines being reinforced again, online shopping was the only option in some places.
Shopify’s stocks are also doing quite well. Shares have increased 160.2 percent compared with the overall industry’s increase of 34.7 percent.
Mobile sales made up two-thirds of Black Friday sales, proving the increase in mobile commerce is also happening. The average Black Friday cart price also rose 11 percent of 90 dollars and 70 cents. The top categories included apparel and accessories, health and beauty, and home and garden.
Shopify is expected to continue benefiting from the growth in e-commerce. Recently, Shopify partnered with TikTok to help its merchants advertise their products more easily on the app.
photo: via Shopify Facebook page