Consumers spent a record $11.8 billion on Black Friday, up from last year’s $10.8 billion. This points to continued consumer strength and strong holiday season demand, which is positive for the economy. Amazon and Shopify are big beneficiaries, with Amazon expecting 30% EPS growth this year and Shopify reporting $14.6 billion in global sales.

Amazon’s e-commerce operations see a spike in sales during the holiday season, with analysts revising EPS expectations and a 7% stock gain in 2025. Shopify, a pandemic-era success story, reported record-breaking sales figures of $14.6 billion and saw 81+ million consumers worldwide buy from Shopify-powered brands during Black Friday and Cyber Monday.

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Read more at Nasdaq: Busy Holiday Shopping Season: 2 Companies Poised to Benefit