Shopify has reported a record-breaking Black Friday-Cyber Monday (BFCM) weekend, with retailers hitting US$11.5 billion in sales. This represents a 24% increase from last year, indicating a significant boost in consumer spending despite the ongoing economic challenges.

Over 76 million consumers made a purchase during the BFCM weekend, with sales in the Asia-Pacific (APAC) region growing by over 29%. In Australia, the number of consumers making purchases grew by 14% compared to last year, reflecting a robust retail environment.

The peak sales hour in Australia was 9PM AEST on Cyber Monday, December 2. Melbourne, Sydney, and Brisbane emerged as the top-selling cities, with the average cart price in Australia reaching AUD $199.12, a 23% increase from last year.

The top product categories by orders in Australia were Clothing Tops, Cosmetics, Dresses, Fitness & Nutrition, and Activewear. Interestingly, 14% of orders in Australia were cross-border, indicating a strong international demand for Australian products.

Point of Sale (POS) sales made by Shopify merchants in Australia have grown by 29% since last year, highlighting the continued rise of in-store shopping. Globally, the peak sales per minute was USD $4.6 million on Black Friday, November 29 at 12:01 PM EST.

More than 16,500 merchants made their first sale on Shopify during the BFCM weekend, and over 91 million packages have been tracked on the Shop App during the BFCM weekend.

Sales in the Europe, Middle East, and Africa (EMEA) region increased by over 39% during the BFCM weekend, demonstrating the global reach of the retail event.

Shaun Broughton, managing director JAPAC at Shopify, commented on the results: “Against the odds, there’s no doubt that this BFCM weekend proved to be a major success for retailers. Our data revealed a record-breaking holiday as our retailers hit $11.5 billion sales globally-up 24% from last year.

“While the cost-of-living continues to influence consumer shopping behaviour, the number of Australians purchasing from merchants grew 14% and average cart size grew 23%-suggesting many are becoming more strategic with their spending as they seize value-driven deals. In Australia, we also saw a 29% increase in POS transactions, revealing a continued rise of in-store shopping. By taking a unified approach across online and offline channels, retailers have managed to capitalise on evolving consumer behaviours to ensure they capture a significant share of wallet this holiday.

The weekend highlighted the resilience of consumer demand, and the continued tenacity of the Australian retail industry for Broughton.

“By ensuring a strategic approach to reach the right customers on the right channels, with value at the heart, retailers can still engage budget-conscious consumers to drive a significant portion of their annual revenue,” he added.