Shopify reports Black Friday sales up 22 per cent from 2022

Shopify Inc. headquarters signage in Ottawa on Tuesday, May 3, 2022. THE CANADIAN PRESS/Sean Kilpatrick

Ottawa-based e-commerce giant Shopify says it had a successful Black Friday, reporting a 22 per cent increase in Black Friday sales from last year despite concerns over inflation weighing on consumers.

A post to social media by Shopify president Harley Finkelstein said the company hit $4.1 billion in sales on the popular shopping day alone.

Peak sales on Black Friday hit $4.2 million per minute at 12:01 p.m. EST. $1 billion in sales were made before midnight EST.

The average purchase price by consumers totalled $110.71.

Finkelstein said it was the best day in sales for over 30,000 merchants on the platform and over 13,000 Shopify sellers made their first sales.

The optimistic Black Friday numbers come as a sigh of relief for the platform, which has struggled to compete amid a troubling time for tech companies.

Shopify announced in May it would be laying off 20 per cent of its workforce, saying it needed to 'refocus' its operations.

Spotify Inc.'s stock price topped $100 on Monday morning, the highest so far this year.

With files from The Canadian Press