Afterpay US Sales Beat Australia’s For First Time In November
Afterpay co-CEO Nick Molnar says US sales during the Black Friday and Cyber Monday shopping event exceeded Australia for the very first time.
According to the BNPL giant, the company processed more sales in the United States than Down Under for the first time in its history during a single month, with US customers jumping by 1 million to 7.5 million between October and November.
“We feel encouraged about what we saw during Black Friday, and the ramp into Christmas and the broader holiday period,” Molnar told The Australian Financial Review.
“The Millennial cohort in Australia and America are leading the charge, supporting the retail community and spending levels are largely at, or exceeding, pre-COVID levels.”
Afterpay records around 80% of its sales online, while the remaining 20% is at physical stores.
Black Friday and Cyber Monday sales were predominantly online too, despite more physical retail stores opening up after the pandemic shutdown.
During a trading update on Wednesday, Afterpay said it had recorded its biggest ever number of sales on a single day on November 27.
During November, $1 billion sales in the US were made using Afterpay, while $900 million sales were made via the BNPL platform in Australia during the same period.