Shopify (SHOP) President Harley Finkelstein joined Julie Hyman and Josh Lipton to discuss the holiday shopping season and Shopify's role in empowering merchants.

Finkelstein highlighted two key factors driving record holiday sales. First, he notes the extended shopping period: "We've expanded from being four days or six days to" approximately three months, with deals expected to continue through Christmas. Second, he emphasizes the evolution of retail across multiple online and offline channels, particularly through social media advertising, declaring, "It really does feel like this is a new golden age of retail."

Regarding consumer spending, Finkelstein reveals that the average cart value in the United States this season is $154. Popular brands driving holiday sales include Cozy Earth, Brooklinen, Calpak, and Lola Blankets. He also noted the rising trend in subscription boxes, observing that "there's a lot more energy around these consumers buying directly from the brands that they love."

The growth of social commerce is particularly noteworthy. Finkelstein reports that 57% of consumers aged 18-24 make purchases through Instagram, while 56% buy via TikTok.

"It feels like it's more than just a transaction, it feels like this immersive gamified experience and it's making commerce and retail very exciting again," he told Yahoo Finance. Finkelstein emphasized Shopify's commitment to helping businesses expand globally, supporting everyone from first-time sellers to established household brands.

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This post was written by Angel Smith