Square and Afterpay Sellers Hit Record-Breaking Black Friday and Cyber Monday With 70M Transactions, up by 14% YoY
Portfolio Pulse from Benzinga Newsdesk
Square and Afterpay reported a record-breaking Black Friday and Cyber Monday with 70 million transactions, marking a 14% increase from the previous year. In-person shopping rose by 15%, while online cart sizes were 3.9 times larger than in-person. Additionally, 9% more businesses adopted omnichannel strategies to attract both in-person and online buyers. This data compares the 2022 to 2023 Black Friday through Cyber Monday weekend.
November 28, 2023 | 11:27 am
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Square (SQ) experienced a significant increase in transactions over the Black Friday and Cyber Monday weekend, with a 14% YoY growth and a 15% increase in in-person shopping. The larger online cart sizes and more businesses adopting omnichannel strategies indicate strong performance and potential revenue growth.
The reported increase in transactions directly relates to Square's core business of payment processing. The growth in both in-person and online transactions, along with the adoption of omnichannel strategies by more businesses, suggests a positive impact on Square's revenue and potentially its stock price in the short term. The data is specific and recent, which supports a high confidence level in the analysis.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100