Toronto’s EMERGE Commerce this week reported preliminary Gross Merchandise Sales results from the Black Friday and Cyber Monday shopping period.
The Canadian fintech revealed more than $1 million in sales from November 29 through December 2, a figure up 10% year-over-year.
“[Black Friday and Cyber Monday] exceeded management’s expectations, building on our top-line growth acceleration and overall operational momentum in recent quarters,” stated Ghassan Halazon, the founder and chief executive officer of EMERGE.
“We are particularly pleased to drive strong organic growth in [Gross Merchandise Sales], the actual sales volume transacted on our sites, across both our Grocery and Golf divisions, during this landmark shopping event—a testament to the team’s efforts and the compelling value proposition we offer our valued members and merchants alike,” the CEO continued.
“We believe these positive BFCM results bode well for the peak holiday shopping season ahead, and for Q4 overall,” Halazon added.
Trading on the TSXV as ECOM, EMERGE is an e-commerce brand portfolio holding subscription and marketplace e-commerce properties that provide members with access to unique offerings across grocery and golf verticals.
EMERGE’s grocery businesses include truLOCAL.ca and Carnivore Club. Golf businesses include UnderPar and JustGolfStuff.
Another Canadian commerce company that benefitted from the wildest shopping frenzy of the year was Ottawa’s Shopify, who reported $5 billion in Black Friday Sales through its e-commerce platform, a figure up more than 20% year-over-year.
Shares in Shopify spiked recently, with the firm recently hitting a market capitalization north of $200 billion.
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