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Speaker 1: Bloomberg Audio Studios, podcasts, radio news.

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Speaker 2: Despite some of that economic uncertainty, Spencer was talking about

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Speaker 2: disappointment over the size of discounts. US shoppers did open

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Speaker 2: their wallets on Black Friday, So what does that mean

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Speaker 2: for the month ahead. Harley Fingalstein, president of global commerce

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Speaker 2: company Shopify, is here with some good data, some good insights.

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Speaker 2: I mean where we ended it. There was Spencer, Harley,

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Speaker 2: the forecasters, the predictors say that this will be another

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Speaker 2: record shopping season in aggregate the data available to you.

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Speaker 2: What are you seeing? What are the trends?

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Speaker 3: Yeah, you know, I heard what Spencer said there. I mean, look,

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Speaker 3: Friday was another record breaking Black Friday weekend. We saw

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Speaker 3: about six point two billion dollars in sales for Black Friday.

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Speaker 3: That's about twenty five percent from last year. We saw

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Speaker 3: peak sales of five point one million dollars per minuted

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Speaker 3: on Friday that happened around noon on Friday. That's up

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Speaker 3: from four point six million last year as well. And

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Speaker 3: if you pull up actually anyone can see this BFCM

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Speaker 3: dot shop, you can actually see global commerce happening right

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Speaker 3: now in real time. We are currently seeing about two

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Speaker 3: point five million dollars per sales in sales per minute,

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Speaker 3: about twenty five thousand orders per minute, and we've seen

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Speaker 3: just shy of seventy million unique shoppers buy from Shopify stores.

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Speaker 3: So it's certainly shipping up to be another great day.

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Speaker 3: And happy to go into some of the merchants and

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Speaker 3: some of the trends that we're seeing cross Shopify.

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Speaker 2: Harley, what I'd like to do is actually take a

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Speaker 2: sort of geographic breakdown because in the limited data that

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Speaker 2: we went through a spencer, I think we're recognizing different

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Speaker 2: speeds of great sharpicula.

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Speaker 1: US versus Europe. Could we start there? Yeah? Sure.

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Speaker 3: I mean, look, if you look at top selling countries

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Speaker 3: across the world where Shopify sells, we have millions of

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Speaker 3: stores in places like the US, we power twelve percent

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Speaker 3: of all e commerce, so we have a really great

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Speaker 3: view of things. US, UK, Australia, Germany and Canada are

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Speaker 3: the top five. Look a top three selling cities you

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Speaker 3: see La New York and London in US alone, La

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Speaker 3: New York and San Francisco were the top three. The

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Speaker 3: other thing that we also saw is cross border, but

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Speaker 3: seventeen percent of orders were cross border orders, so shipped

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Speaker 3: to a different country as well. And then in terms

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Speaker 3: of top trending merchants that we saw, we saw Hatch

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Speaker 3: which is sort of this it's been called the Restore three,

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Speaker 3: which is this phone free alarm for kind of morning routines.

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Speaker 3: Crunch Labs has the sort of kids build it yourself

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Speaker 3: monthly toy subscription, brook linnen on their super Plush robe,

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Speaker 3: and then Bass has their weekend or travel bag as well.

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Speaker 3: So we're seeing across a bunch of different verticals do

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Speaker 3: really well.

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Speaker 1: But a big thing.

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Speaker 3: Actually that we're seeing now is last year seemed to

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Speaker 3: be a lot to talk about getting outside gifts, were

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Speaker 3: about the products being sold, were about you know, things

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Speaker 3: like skiing or hiking.

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Speaker 1: We're camping. This year seems to be that home is

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Speaker 1: really you.

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Speaker 3: Know, the winner here where people are buying things for

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Speaker 3: their home, whether it's kitchens except for the kitchen, or

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Speaker 3: puzzles or blankets, but generally consumers are buying from brands

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Speaker 3: they love, and we're fortunate those brands are on Shopify.

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Speaker 1: What does that cross border stat that's seventeen percent signal

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Speaker 1: to you? Is that growing? I mean, how does that

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Speaker 1: stand up to last year when perhaps Taris went such

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Speaker 1: a headwind.

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Speaker 3: Yeah, I mean it's what I think it means is

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Speaker 3: that consumers generally are somewhat geographically agnostic. They want to

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Speaker 3: buy from their favorite brands. You know, we heard from

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Speaker 3: Jim Shark they had their biggest Black Friday sale ever

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Speaker 3: online ag one Athletic Greens was a fifty percent brunt

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Speaker 3: Workware got an order every five seconds. So if you

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Speaker 3: think about where consumers are purchasing, they're buying from brands

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Speaker 3: they love the Voris, the figs, the Alo Yogas, the

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Speaker 3: on Runnings of the World, and I think they're agnostic

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Speaker 3: to where those are coming from.

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Speaker 1: The other thing that we're.

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Speaker 3: Seeing, which is really interesting, is that this really wasn't

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Speaker 3: just about discount this year.

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Speaker 1: People shop brands, not channels.

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Speaker 3: We're almost worrying living in sort of a post world

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Speaker 3: channel where you know, the consumers bounce from a TikTok

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Speaker 3: video to an AI agent, to a website to a store.

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Speaker 3: Even in video games like Roadblocks where Shoppi by powers commerce.

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Speaker 3: The brands that really won the weekend made the experience

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Speaker 3: feel the same everywhere they were, and that continues today.

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Speaker 2: Let's talk holly about the inevitable AI question.

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Speaker 1: Because you are like the global commerce company. You're helping

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Speaker 1: people be digitally native. How are they interacting therefore, in

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Speaker 1: this world of brands with various AI agents, whether their

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Speaker 1: own or whether they're external third party.

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Speaker 3: Yeah, I mean, look, it's still very very early, but

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Speaker 3: since January we've actually seen AI driven traffic on to

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Speaker 3: Shopify stores up about six x.

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Speaker 1: But we've been preparing for this for years.

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Speaker 3: We've been laying the rails for AGENTI where alread we've

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Speaker 3: already anounced deals with Perplexity and more recently with chat GBT,

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Speaker 3: where brands on Shopify can sell directly in those conversations,

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Speaker 3: no links, no redirects, just sort of this very seamless

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Speaker 3: experience directly in the chat. And so I think we're

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Speaker 3: going to see a lot more of that. Now what

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Speaker 3: permutation eventually wins, we're not sure yet, but we'll be

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Speaker 3: ready for it. But the other side of it is

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Speaker 3: really interesting, which is that brands, the merchants themselves, are

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Speaker 3: using AI to support them on the biggest shopping season

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Speaker 3: we can of the year. So we have something called Sidekick,

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Speaker 3: which is the AI assistant built into Shopify, which knows

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Speaker 3: everything about merchant stores, knows everything about Shopify, and we've

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Speaker 3: seen over one hundred million conversations with Sidekick. So merchants

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Speaker 3: are able to do things like you know, design copyright

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Speaker 3: market create these incredible analytics dashboards where they can decide

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Speaker 3: where to spend in a much more sophisticated way. And

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Speaker 3: so it's giving smaller merchants a real leg up against

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Speaker 3: the bigger guys because this AI empowers them.

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Speaker 2: I want to go back to tariffs, Holly, but with

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Speaker 2: a slightly different way of asking the question. You can

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Speaker 2: look at overall spend, but the question we're asking ourselves

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Speaker 2: in the bloom Bag newsroom is our consumer is still

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Speaker 2: spending and getting less in return. So what are the

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Speaker 2: data sets that you're tracking the evidence that impact of

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Speaker 2: tariffs either through a diminished spend or same level of spend,

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Speaker 2: but you just get less for it.

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Speaker 3: We actually measure, you know, both consumer confidence but also

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Speaker 3: consumer's appetite to spend at checkout and so far, I

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Speaker 3: mean as we speak right now, ed two point five

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Speaker 3: million dollars are going through check with every single minute.

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Speaker 3: So we've operated through all types of macro environments and

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Speaker 3: our focus is always the same, which is for merchants

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Speaker 3: and I think what we're seeing though, is that, you know,

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Speaker 3: whether during the pandemic, for example, we introduce tools like

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Speaker 3: you know, contact list delivery back in twenty twenty. Well,

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Speaker 3: now we're creating tools to help merchants navigate cross border

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Speaker 3: tariffs and navigate sort of some global uncertainty to make

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Speaker 3: sure they have everything they need.

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Speaker 1: So we're not complacent about this.

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Speaker 3: We're tracking macro conditions, but so far Shopify merchants consistently

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Speaker 3: outperform the overall market, and we're seeing that that they're

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Speaker 3: they're you know, they have a lot of buyers.

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Speaker 2: Right now, and I think we'll see great to have

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Speaker 2: some time with the president of Shopify. What a weekend

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Speaker 2: it's been for you, I'm sure