Shopify, whose ecommerce software underpins some of Australia’s biggest retailers as well as thousands of small online stores, says consumer spending remains resilient across its global platform — despite persistent inflation and economic uncertainty.

In Australia, major brands including JB Hi-Fi, The Good Guys, Bing Lee, and Myer use Shopify’s systems, alongside more than 3,400 Shopify Plus retailers and over 137,000 smaller merchants. The company says these retailers are continuing to see steady demand, contributing to a strong performance in its latest quarter.

The Canadian ecommerce giant reported a 32% increase in third-quarter sales to US$2.84 billion, surpassing Wall Street expectations of US$2.76 billion, according to FactSet. Its gross merchandise volume (GMV) — a measure of the total value of goods sold through its platform — also climbed 32% to US$92.01 billion.

While net profit fell to US$264 million, or 20 cents per share, from US$828 million a year earlier, adjusted earnings of 34 cents per share met analyst forecasts.

Shopify now expects revenue to grow at a mid-to-high-20% rate in the current fourth quarter — which includes the crucial Black Friday and Christmas trading period. Gross profit dollars are projected to rise in the low-to-mid-20% range, with operating expenses expected between 30% and 31%, including US$130 million in stock-based compensation.

Despite the strong results, Shopify shares slipped 3% to US$167.73 in Thursday trading. Even so, the stock has more than doubled in the past year, making Shopify the largest company by market value on the Toronto Stock Exchange earlier in 2025.

President Harley Finkelstein said that while shoppers are being more selective, spending has remained solid across product categories and retail channels.

“Shoppers keep buying,” Finkelstein said. “They keep returning, and demand remains really resilient.”

He added that new merchants continue to join the platform, including Estée Lauder, and Michael Kors.

Finkelstein also highlighted Shopify’s increasing focus on artificial intelligence, describing it as central to the company’s next phase of expansion.

“AI is not just a feature at Shopify — it’s part of the engine that powers everything we build,” he said.

Shopify’s AI-driven tools, such as Sidekick, aim to help merchants boost sales and improve the shopping experience by providing real-time insights and automation.

With continued growth in online retail activity and stable consumer spending, Shopify says it remains well-positioned heading into the year’s busiest shopping period.