Inflation doesn’t slow down bargain hunters

Undeterred by inflation and a sluggish economy, bargain hunters flock to Black Friday for discounts offered by merchants.

• Also Read: A coupon ‘junkie’ wants to donate hundreds of groceries

• Also Read: Cyber ​​Monday 2022: Best deals from Amazon

According to Canadian commerce giant Shopify, which provides payment solutions to businesses worldwide, its customers set a new record on Friday with total sales of US$3.36 billion (C$4.5 billion).

That’s up 17% from 2021, or 19% in constant dollars, Shopify said. At the peak of sales, retailers were raking in US$3.5 million per minute at midday.

The average basket reached US$102.31, or about C$137.

Sales were particularly strong in the United States, Canada and the United Kingdom, the Ottawa-based flagship also noted.

Cyber ​​Monday also promises great sales for Spotify customers. Still as of Monday evening, Spotify recorded sales exceeding US$1.8 million per minute, while more than 56 million buyers used the Canadian company’s services to transact with a merchant during the day.

Shopify isn’t the only company to see significant enthusiasm from consumers. Adobe Analytics, for its part, said that in the United States alone, consumers spent US$9.2 billion on all types of purchases on the web on Friday, a total increase of 2.3%.