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Shopify Sees ‘Paradigm Shift’ as Black Friday Approaches

  • Orders rose 17% in second week of November versus first week
  • Focus on growth means no plans for dividends or share buybacks
Harley Finkelstein

Harley Finkelstein

Photographer: Christinne Muschi/Bloomberg
Updated on

Shopify Inc. expects a banner holiday season as the worsening pandemic encourages more consumers to shop online and buy from the small businesses that sell through its platform.

While the pace of growth will likely slow once the pandemic ends, this year’s gains will likely hold up, President Harley Finkelstein said in an interview. The company reported a 109% increase in gross merchandise volume, a key metric for online retailer companies, in the third quarter.