Shopify racks up record Black Friday sales tally
Shopify (NYSE:SHOP) announced a record-setting Black Friday with sales of $3.36B from the start of the one-day shopping holiday in New Zealand through the end of the day in California.
The tally marked a 17% year-over-year increase in sales over the Black Friday or +19% on a constant currency basis.
Merchants on Shopify saw sales of $3.5M per minute at 12:01 PM EST on Black Friday, which was the peak level of activity.
"Black Friday Cyber Monday has grown into a full-on shopping season. The weekend that started it all is still one of the biggest commerce events of the year, and our merchants have broken Black Friday sales records again," noted Shopify President Harley Finkelstein.
SHOP noted that top selling countries and cities where shoppers made purchases from United States, United Kingdom and Canada, with the top-selling cities on Black Friday including London, New York, and Los Angeles
Product categories showing strength were apparel & accessories, health & beauty, and home & garden.
Shares of SHOP are up more than 20% over the last six weeks, but still trade below their 200-day moving average.