(1) Black Friday 2024: Trends and Forecast

(1) Black Friday 2024: Trends and Forecast

• Shopify Revenue Evolution 2019-2023
• BFCM insights 2023
• 2024 Projection
• Trends and Expectations

1. Shopify Revenue Evolution 2019-2023

Shopify only, revenue in the 4 days of BFCM:
2019: $2.9B

2020: $5.1B

2021: $6.3B

2022: $7.5B

2023: $9.3B

2024: ???? pretty much sure, $10 Billion

BFCM 2023 Insights from Shopify

• 24% growth YoY
• Sales record per minute: $4.2M at 12:01PM EST (6pm CEST)
• 61M people bought (in Shopify stores)
• Global AOV $108
• Top countries by sales: USA, UK, Australia, Canada, Germany.
• Top city by sales: LA, NY, London
  

2024 Projection / Expectations

• $10B
• 2018-2022: long BFCM works well
• 2023: customers waited until BF (Meta reps were shocked)
• 2024: ?
  
• Macroeconomics and mass market:
• Inflation has eased
• Interest rates US have gone up
• Tik Tok Shop will have an effect (social selling?)
• Temu, Shein will have an effect (gift? Free?)
• We have solid AI