Black Friday shoppers undeterred by strength of dollar

Black Friday shoppers undeterred by strength of dollar

Black Friday and Cyber Monday have proved strong for ecommerce once more, despite high inflation. Adobe Analytics reported $9.1bn spent on Black Friday, with a further $11.3bn on Cyber Monday, both record-breaking amounts. And though the strength of the dollar led to some fears that cross-border purchases may decrease, Shopify has provided some insights that suggest demand has remained at least the same.

Shopify sees Black Friday cross-border orders remain constant
Black Friday and Cyber Monday sales and cross-border order percentages

Shopify saw total global sales of $7.5bn over the four-day period, a 19% increase on 2021, with 52 million consumers worldwide using merchants powered by the company (an 18% increase from last year).

Notably, 15% of orders were cross-border in 2022, the same figure as in 2021. The share remains below its 20% peak in 2018, although this represented a significantly smaller number of checkouts. Shopify also shared its biggest cross-border corridors, with US to Canada, Canada to US and UK to US remaining the most popular. 

Away from Shopify, Buy Now Pay Later (BNPL) offerings saw success that may reflect the tougher economic environment facing shoppers. CNBC reported that BNPL payments for the Black Friday period increased by 78% compared with the previous week and BNPL revenue was up 81% for the same period.

How does pricing impact cross-border ecommerce?

Read More About

dLocal’s future strategy: CEO Pedro Arnt on Q1 2024 results

May 23rd, 2024

Nuvei goes private: Inside the Advent International deal

April 11th, 2024

Which money transfer companies have the best customer ratings in 2024?

April 4th, 2024

Sign In
Account Registration
By creating an account, you agree to our
Terms and Conditions
Please enter your email address
We'll send you instructions on how to reset your password.