Ottawa-based e-commerce giant Shopify once again set a new Black Friday and Cyber ​​Monday (BFCM) record despite partial service shutdown yesterday.
Merchants on the Shopify platform had total sales of $14.6 billion over the BFCM weekend, an increase of 27 percent (24 percent in constant currency). compared to 2024. More than 81 million customers purchased products from Shopify merchants during the main four-day shopping period.
Shopify merchants' total sales on BFCm are up 27 percent compared to 2024.
BFCM sales peaked just after noon EST on Black Friday, according to Shopify, with makeup, shirts and pants, activewear, and fitness and nutrition items among the top-selling items as people took advantage of holiday sales despite an overall decline in consumer spending.
These results came despite the Cyber ​​Monday outage, with merchants reporting they were unable to access their store backends or use in-store point-of-sale systems yesterday. Shopify said in the statement that he suffered from “degradation of the system, which has now been mitigated.”
Shopify's share price fell as much as six percent on news of the service outage, but then recovered.
Shopify is set to end this year on a strong note. This is temporary restored his status as Canada's most valuable company in the second quarter of 2025, and then returned to second place behind RBC. Today, Shopify is trading at near its highest valuation multiple since the peak of Covid-19.
CONNECTED: Shopify says recent layoffs have 'removed layers that created complexity'
An e-commerce firm that recently beat its sales forecast for the third quarter, forecast revenue growth in the mid-to-high twenty percent year-over-year for the fourth quarter as it compares itself to a particularly strong Q4 2024.
In recent weeks Shopify laid off employees in several positions following senior management changes and layoffs that reportedly related to issues of internal sales fraud last summer. Since then Shopify carried out a major overhaul How do sellers get paid?
Disclosure: BetaKit's majority owner Good Future is the family office of two former Shopify leaders, Arati Sharma and Satish Kanwar.
Image courtesy of Open Grid Scheduler/Grid Engine at Flickr (CC0 1.0).
