Business

Shopify’s Cyber ​​Monday sales have already surpassed 2020 sales – President

Shopify president Harley Finkelstein told CNBC that Cyber ​​Monday sales were strong across its worldwide network of small businesses and direct-to-consumer businesses.

“We don’t have final numbers, but Shopify sellers have now surpassed last year’s $ 5.1 billion worldwide sales,” Finkelstein told Mad Money less than an hour after the US stock market closed at 4:00 pm. Eastern European Time. …

“We saw a peak in sales … today at $ 1.5 million per minute, or 13,000 orders per minute,” Finkelstein added.

Finkelstein’s comments provide an insight into consumer spending on one of the biggest days of the holiday shopping season, with online retailers offering special deals and discounts on a range of products.

A few days earlier, on Black Friday, Finkelstein said Shopify sellers recorded $ 2.9 billion in sales, up 22% from last year, while many shoppers were reluctant to shop in person due to concerns about about the coronavirus. Shopify’s Black Friday 2021 sales were more than double their 2019 levels, according to Finkelstein.

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

Shopify closed Monday’s session down 0.6% to $ 1,567.02 a share, bringing the company to a market cap of $ 195.5 billion. The company’s shares are up 38.4% since the beginning of the year.

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