Business

Cyber ​​Monday sales of Shopify merchants have already exceeded 2020 numbers: president


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

“We don’t have final numbers, but Shopify merchants have now surpassed last year’s sales of $ 5.1 billion globally,” Finkelstein said in a “Mad Money” interview. Within an hour of the U.S. stock market close at 4 p.m. ET. .

“We had peak sales … today reaching $ 1.5 million per minute or 13,000 orders per minute,” added Finkelstein.

Finkelstein’s comments provide insight into consumer spending during one of the most important days of the holiday shopping season, characterized by online retailers offering deals and discounts on a range of products.

Days earlier on Black Friday, Finkelstein said Shopify merchants achieved $ 2.9 billion in sales, up 22% from last year at a time when many shoppers were reluctant to make their purchases. in-person purchases due to coronavirus concerns. Shopify’s Black Friday sales for 2021 have more than doubled from 2019, Finkelstein added.

Shopify has benefited from the acceleration in e-commerce sales fueled by the Covid pandemic. 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, taking the company’s market cap to $ 195.5 billion. The title is up 38.4% since the start of the year.

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