Shopify has shattered its own records once again during Black Friday-Cyber Monday (BFCM) 2024, with merchants achieving a remarkable $11.5 billion in global sales, a 24% increase from the $9.3 billion record obtained in 2023. This is an exceptional achievement despite ongoing economic challenges.
From the first sale until the end of Cyber Monday, Shopify’s ecosystem powered a shopping spree that reached over 76 million consumers worldwide. This shows how fast the platform is growing and proves the merchants’ ability to thrive as an evolving e-commerce platform.
2024 BFCM Highlights
This year’s numbers demonstrate the immense impact Shopify merchants continue to have:
- Total sales this year were $11.5 billion, a 24% rise compared to 2023.
- Reached over 76 million consumers globally, up from 61 million last year.
- Peak sales per minute were $4.6 million at 12:01 PM EST on Black Friday.
- The average cart value was $108.56, reflecting sustained customer spending.
- Cross-Border Orders: 16% of total sales, showcasing the platform’s international reach.
- Sales through Shopify’s secure checkout solution increased by 58%.
Other major milestones include 67,000 merchants having their biggest sales day ever and 16,500 entrepreneurs making their first sale which shows the platform’s ability to support and empower businesses of all sizes.
What Drives Shopify’s Growth?
Global Reach and Market Expansion
Shopify’s focus on cross-border commerce lets merchants tap into new, diverse markets. International orders now make up 16% of total sales and highlight the platform’s expanding global reach.
Robust Technology Infrastructure
Handling billions of transactions during BFCM requires exceptional reliability. Shopify processed:
- 57.3 petabytes of data.
- 1.19 trillion edge requests.
- 10.5 trillion database queries.
At its peak, the platform handled 284 million requests per minute, proving its ability to perform under intense demand.
Customer-Centric Innovations
Tools like Shop Pay and the Shop App provided seamless shopping experiences, with Shop Pay usage climbing 58% year over year. These innovations, paired with Shopify’s emphasis on consumer convenience, have built trust and loyalty among shoppers.
TikTok Shop’s Record-Breaking Success
TikTok Shop also set its own record during the shopping weekend by earning over $100 million through 30,000+ live streams. These impressive sales both in Shopify and Tiktok Shop prove the rise of social commerce and the big opportunities this offers for brands aiming to connect with younger and digitally engaged audiences.
2023 vs. 2024: Key Comparisons
The leap from $9.3 billion to $11.5 billion in just one year underscores Shopify merchants’ resilience and adaptability:
- Peak Sales Per Minute: $4.6 million in 2024, up from $4.2 million in 2023.
- Global Consumer Reach: more than 76 million shoppers in 2024, compared to 61 million last year.
- Cross-Border Sales: Increased to 16% of total orders from 15% in 2023.
Lessons for Shopify Merchants
This year Shopify’s success offers valuable insights for merchants planning future growth in e-commerce platforms like these:
- Start early marketing and promotions to build anticipation and maximise sales potential.
- Use analytics to tailor customer experiences to help drive higher conversions.
- Shopify Tools such as Shop Pay and cross-border commerce solutions are essential for scaling effectively.
- Focus on seamless experiences to differentiate your business from top-performing brands.
- Consider expanding to international markets, as it opens new revenue streams.
Looking Ahead
Shopify’s record-breaking sales can serve as a reminder that e-commerce continues to thrive and evolve. No matter the challenging times we might go through, Shopify intends to keep its strong presence for a very long time.
As 2025 approaches, why not take some notes from their playbook and use it in your strategy? Focus on creating memorable customer experiences, crafting promotions that excite, building anticipation and trying out fresh and innovative strategies.
New year or carryover, Shopify’s $11.5 billion is a reminder a good e-commerce strategy is worth it.
