2021 Black Friday Cyber Monday Sales Hit 6.3B$

Shopify President Harley Finkelstein told CNBC that Cyber Monday sales have been strong across its worldwide network of small businesses and direct-to-consumer companies.

Finkelstein’s comments offer insight into consumer spending during one of the holiday shopping season’s biggest days, which is characterized by internet retailers offering deals and discounts on a range of products.

Total global @Shopify merchant Black Friday Cyber Monday GMV over the years:
2018 - $1.8B
2019 - $2.9B
2020 - $5.1B
2021 - $6.3B

The future of commerce is independent businesses. And they’re powered by @shopify.

— Harley Finkelstein (@harleyf) November 30, 2021

A days earlier on Black Friday, Finkelstein said Shopify merchants booked $2.9 billion in sales, up 22% from last year at a time when many shoppers were reluctant to shop in person due to coronavirus concerns. Shopify’s Black Friday sales for 2021 were more than double 2019 levels, Finkelstein added.

Shopify benefited from the Covid pandemic-fueled acceleration ecommerce sales. The company, which is based in Ontario, Canada, offers technology that powers online stores for other businesses, and it also offers point-of-sale systems.

Shopify shares closed Monday’s session down 0.6% at $1,567.02 apiece, putting the company’s market cap at $195.5 billion. The stock is up 38.4% year to date.

Source : CNBC