Sean Gallup
Shopify (NYSE:SHOP) announced a record Black Friday with $3.36 billion in sales from the start of the one-day shopping holiday in New Zealand to the end of the day in California.
The tally marks a 17% year-over-year increase in sales Black Friday or +19% on a constant currency basis.
Shopify sellers hit $3.5 million in revenue per minute at 12:01 p.m. EST on Black Friday, which is peak activity.
“Black Friday Cyber Monday has evolved into a busy shopping season. The weekend that started it all remains one of the biggest trade events of the year, and our merchants have broken sales records. Black Friday sales numbers again“, Shopify President Harley Finkelstein noted.
SHOP notes that the top-selling countries and cities where shoppers made their purchases from the US, UK and Canada, with Black Friday best-selling cities including London, New York and Los Angeles
The product categories embodying strength are clothing & accessories, health & beauty, home & garden.
SHOP stock has risen more than 20% in the past six weeks, but still trading below their 200-day moving average.
