Shopify announced record-breaking sales on it’s merchant platform on Black Friday (November 24). At the peak almost $1,000,000 in sales per minute were reportedly being transacted on the Shopify platform, nearly double last year’s numbers.
This is reflexive of the trend this year where for the first time ever in the US, online sales have surpassed in-store sales on Black Friday. This suggests the e-commerce secular trend continues to strengthen.
This is good news for Shopify shareholders.
It is also good news for Amazon shareholders, as it reportedly saw a 24% increase in online sales year-over-year on Thanksgiving and Black Friday.
What intrigued me as well as the e-commerce sales data was Shopify’s ability to publish in real-time the sales volumes on its platform using pretty cool graphics. I don’t know if this link will be active past Cyber Monday (November 27) but if you have a chance it is well worth looking at, even if you don’t own Shopify stock.
I will be curious to see how the e-commerce companies and ETFs perform as Q4 numbers roll in.
Disclaimer: I/we hold shares in Shopify (SHOP).