Black Friday concluded with record breaking sales for Shopify merchants. Based on sales data from November 24, 11:00 UTC, to November 26, 8:00 UTC, Shopify merchants recorded $3.36 billion sales. This data was compiled geographically from New Zealand to California.
Our merchants have built beloved brands with loyal communities that support them. This weekend, we’re celebrating the incredible power of entrepreneurship on a global stage.
Harley Finkelstein, President, Shopify
While comparing this data with the last year turnaround, Shopify stated an increase of 17 percent in Black Friday sales from 2021. It amounts to 19 percent on a constant currency basis. The peak of Black Friday sales was seen at 12:01 PM EST on November 25. Astonishing $3.5 million sales were recorded at the peak of Black Friday.
“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,” Harley Finkelstein, President of Shopify, said in a press release.
“Our merchants have built beloved brands with loyal communities that support them. This weekend, we’re celebrating the incredible power of entrepreneurship on a global stage,” Finkelstein added.
Highlights of Black Friday
1. $3.5 Million in One Minute
As stated above, Black Friday sale peaked at USD 3.5 million between 12:00 and 12:01 PM. The impressive minute sale volume shows how Shopify is leading the e-commerce market with its merchant partners.
In the run up to BFCM, Finkelstein had told Fox Business in an interview that small businesses are the backbone of American economy. Shopify had high hopes from its merchant partners to turnaround fortunes in an otherwise struggling economy.
“It’s quite clear, especially post-pandemic, that small businesses are the backbone of the entire economy. They’re very, very important,” Finkelstein said in praise of small and medium-sized enterprises (SMEs).
“There are a lot of unknowns, especially right now in this crazy economy. But despite the current realities, there are still some real bright spots. We believe that Black Friday and Cyber Monday will still be one of the most anticipated events of the year. Every minute or so, a new entrepreneur gets their first sale on Shopify,” he addded.
2. Top Selling Countries
The United States continued to lead online sales this Black Friday. According to the International Council of Shopping Centers, Black Friday has been America’s busiest shopping day every year since 2005. Other top selling countries include the United Kingdom and Canada.
While London led the list of top selling cities this Black Friday, New York, and Los Angeles followed the British capital.
3. Top Picks
Most of the shoppers purchased online products from apparel & accessories section. Next in the top selling products’ list were health & beauty and home & garden sections. Shopify’s 2022 Black Friday data also revealed top products that were purchased by shoppers on Black Friday.
The highest number of shoppers purchased boxershorts from Snocks GmbH, a socks and sneaker manufacturer based in Mannheim, Germany. The second most sold product on Black Friday was peptide glazing fluid by rhode. Another product that sold like hot cakes during Black Friday sale included Luxe Core Sheet Set by Brooklinen. All these brands have their online stores powered by Shopify.
Earlier, Deloitte’s 2022 Black Friday-Cyber Monday Survey had anticipated that most of the shoppers would use the holiday shopping season to buy products for gifting purpose.
4. Average Purchase
According to Shopify’s Black Friday/Cyber Monday Shopping Index, USD 102.31 was the average cart price this Friday. On a constant currency basis, the average purchase turned out to be USD 105.10. Apart from the average purchase, the index aimed at discovering real time sales trends, added-to-cart products and pageviews of different sellers on Shopify.
5. Cross Border Trade
Shopify’s sales data also revealed that around 15 percent of shoppers purchased products from cross border boundaries. The Candian company values cross border trade more than any other e-commerce platforms.
In September, Shopify launched Shopify Markets Pro and Shopify Translate & Adapt to capture international selling market. Both the new products are based on enormous success of Shopify Markets, which allows merchants to online sell their products to anyone across the globe.
The initiative is aimed to democratize small business owners’ access to international commerce. The new Shopify Markets Pro helps them expand business globally. It covers more than 150 countries. Shopify Translate & Adapt, on the other hand, localizes the customer journey to boost international selling chances for merchants.
6. POS Sales
Shopify is a market leader when it comes to online shopping. However, it has expanded expertise to in-store selling as well with POS Go, a handheld tool to establish a foothold in the hardware market. This year, Black Friday sale saw 27 percent rise in POS sales worldwide.
Launched in September, POS Go comes with a card reader, inventory tracker and a built-in bar code scanner. Merchants are also able to manage staff and payments irrespective of where they are — online or store. Shopify POS Go app can be customised to manage store and provide better services to customers.
“Retail is evolving quickly and merchants need flexible solutions to help them succeed. More than ever, brick-and-mortar retailers need technology that keeps them nimble. With POS Go, we’re empowering our merchants to deliver world-class, differentiated in-store experiences. Offline retail is all the way back, and we’re investing heavily in hardware that’s fit for the fastest-growing, most innovative retailers in the world,” Arpan Podduturi, VP of Product at Shopify, has said at the time of launch.
About Shopify’s Data on Black Friday
The data on Black Friday compiled by Shopify can be viewed on datastories.shopify.com. Today is Cyber Monday, so the data wiill be more refined by the end of Saturday. Titled as Black Friday Cyber Monday Live Globe, it is an annual document that emphasizes on Shopify’s impact on e-commerce business worldwide.
The data is approximate and comes through various assumptions. Shopify clearly mentions on its website that the data is unaudited and can be adjusted further. All financial figures mentioned above are in US dollar and include both online and offline sales recorded by Shopify merchants across the globe.
