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The news: Shop Pay鈥檚 gross merchandise volume (GMV) jumped 50% YoY in 2024, per Shopify鈥檚 Q4 2024 earnings release. This volume came from more than 200 million Shop Pay users and represented 38% of Shopify鈥檚 total GMV, up from 33% in 2023. What drove growth: Holiday spend gave Shop Pay a boost: GMV over the Cyber 5 Weekend shot up 58% YoY.

Gross merchandise volumes (GMV) grew by 25.7% year over year (YoY) to $94.46 billion, outpacing FactSet鈥檚 consensus estimate of $93 billion. Revenues accelerated 31.2% YoY to $2.81 billion, topping analysts鈥� expectations of $2.73 billion. Adjusted earnings per share (EPS) jumped to 44 cents, up 29% YoY and well ahead of the expected 35 cents.

Alibaba also got a sizable bump from the extended Singles Day shopping season, which helped boost gross merchandise volume (GMV), as well as efforts to extract more revenues from sellers in the form of software service fees and advertising sales. At the same time, Alibaba鈥檚 cross-border influence is growing.

Gross merchandise volume (GMV) jumped up 35% YoY. Growth highlights: Affirm鈥檚 volume got a boost from a few key segments. GMV from third-party marketplaces during the Black Friday/Cyber Monday weekend grew 44% YoY. GMV from travel increased 42% over the same period. Expanding beyond traditional retail categories is also paying off: Professional and legal services GMV surged 60% YoY.

Affirm Card GMV jumped up 113% YoY in its Q2 FY 2025 earnings (ended December 31, 2024). The BNPL provider redesigned its app during the quarter to better promote the card. This tie-up with FIS will help Affirm further this goal by bringing the BNPL option to more debit cards, which can grow its payments volume both online and in stores.

But growth in the October sale鈥檚 YoY gross merchandise value (GMV) will be on par with Amazon鈥檚 full-year ecommerce growth (10.4%) and ahead of its holiday season sales growth (9.1%). Click here to view the full forecast for Amazon鈥檚 October sales event. But competitors may gain more from early sales events.

(However, this isn鈥檛 a perfect comparison with credit card issuers鈥擪larna calculates its loss rate as a fraction of GMV rather than loans). Despite losses from the BNPL industry remaining low, it doesn鈥檛 mean BNPL habits aren鈥檛 a cause for concern.

Temu鈥檚 gross merchandise value (GMV) reached $20 billion in the first half of 2024, surpassing last year鈥檚 $18 billion, per a Chinese media report. Its app was the most downloaded among Gen Zers ages 18 to 24 in the first 10 months of the year, beating out TikTok and Threads by a considerable margin, per Appfigures data cited by Business Insider.

The platform鈥檚 popularity with Gen Z shoppers, investments in live shopping, and well-timed promotional events that coincided with Amazon鈥檚 July and October Prime sales put TikTok on the path to achieve its ambitious target of $17.5 billion in US GMV.

In Q3 2024, Shop Pay facilitated $17 billion in gross merchandise value (GMV), up 42% YoY. Much of this growth is likely from a bump in the number of Shopify merchants and an increase in their sales. But Shopify has also been expanding Shop Pay acceptance outside of its ecosystem, adding to this growth.

This includes gross merchandise value (GMV), comprising direct sales and third-party marketplace sales. Worldwide, marketplace sales will account for close to two-thirds (65.9%) of Amazon鈥檚 total retail sales by the end of 2023, according to our estimates. The company鈥檚 sales in Canada are up threefold from five years ago.

JD.com similarly highlighted a more than 20% YoY increase in shoppers but refrained from releasing statistics on GMV or buyer numbers. However, both were clear that Beijing鈥檚 trade-in subsidies are boosting demand for home appliances and other electronics. JD.com noted that transaction volumes for 519 home and appliance categories rose 200% YoY.

And the card鈥檚 annualized gross merchandise volume (GMV) per user grew from $2,500 to over $3,000. And the card鈥檚 growth will also propel the BNPL player鈥檚 overall volume: We expect Affirm鈥檚 US BNPL payment value will total $30.58 billion in 2025.

US gross merchandise volume (GMV) grew 13.6% YoY, a stark contrast to LVMH鈥檚 stagnation during the same quarter. How we got here: Mytheresa has bucked slowing demand by focusing on the top tier of luxury consumers whose affluence insulates them from economic uncertainty and price hikes.

Still, we expect its US marketplace sales to grow 136.5% this year to $19.39 billion鈥攅xceeding its total GMV in 2023. Go further: Read our report on The US Online Marketplace Shopper.

Affirm鈥檚 gross merchandise volume (GMV) reached $5.6 billion in fiscal Q1 2024, per its earnings supplement. GMV increased 28% year over year (YoY), a deceleration from the 62% YoY growth the year prior. Active consumers and merchants grew 15% and 17%, respectively. Total revenue jumped 37% YoY to $497 million.

Douyin鈥檚 ecommerce business has been wildly successful; the app鈥檚 ecommerce GMV crossed the $200 billion mark in 2022, with 76% YoY growth, according to The Information. TikTok鈥檚 GMV in Southeast Asia hit $4.4 billion in 2022, a fourfold increase over 2021. But UK consumers have been less receptive, and TikTok鈥檚 efforts there have come under fire for poor-quality goods and low payouts to influencers.

Gross merchandise volume (GMV) grew 14% year over year (YoY), items sold rose 28% YoY, and unique buyers increased 21% YoY鈥攖he fastest growth since the pandemic began. GMV grew 34% YoY in Brazil and 27% YoY in Mexico. Items sold grew 16% YoY in Argentina as consumption patterns trend in a positive direction. Advertising revenues grew 37% YoY, well ahead of GMV.

The firm was once Affirm鈥檚 largest partner but 鈥渨ill now be less than 1% of GMV going forward,鈥� CFO Michael Linford said on the earnings call. Overall, Affirm had trouble keeping up with fiscal 2022鈥檚 rapid growth. But Linford noted that those base effects will fade by Q3 of next fiscal year. What鈥檚 next? Affirm is restructuring its business.

Key stat: TikTok Shop sold 68.1% of social shopping gross merchandise value (GMV) in February 2024, per the report. Livestream shopping app Whatnot has captured 31% of GMV, while the combined GMV of Instagram Checkout, Facebook Shop, and Flip App amounted to less than 1%. What it means: Consumers aren鈥檛 just using TikTok for social inspiration, they鈥檙e actually making purchases on the platform.

The year prior, GMV rose 27% YoY. The number of active consumers increased 13% YoY to 17.6 million, and transactions per active consumer jumped 25% YoY to 4.4. This is a slowdown from the same period last year, when active consumers and transactions per account grew 29% and 38% YoY, respectively.

TikTok Shop aims to generate as much as $17.5 billion in US GMV this year, which is 10 times what it pulled in last year, per Bloomberg. That massive growth is particularly notable given that TikTok鈥檚 goal in 2023 was to reach $20 billion in GMV worldwide鈥攎ost of which was expected to come from markets outside the US. That strong growth is convincing TikTok it can drive more revenues from sellers.

Recognizing the threat of such an action, Temu laid the groundwork for a strategic pivot by building up a significant seller base in the US: Products shipped from US warehouses now account for about 20% of Temu鈥檚 US GMV. Shein could send more of its low-cost goods to US warehouses from China to decrease the distance items need to travel once a customer hits the buy button.

And, in the short term, it wants it to surpass Shein鈥檚 gross merchandise volume (GMV) for at least one day by the time of its one-year anniversary on September 1, per Bloomberg. It is off to a good start. Temu generated nearly $200 million in sales in January alone, even before its buzzy Super Bowl ad aired.

Gross merchandise value (GMV) increased 14% year over year (YoY) in Q2 2023, outpacing ecommerce鈥檚 1% growth, per Salesforce data. And demand is strong for Pay Now, which it recently rolled out in Europe: the instant debit option now accounts for about one-third of all transactions in European markets. Klarna is pushing a wide European expansion, launching in 11 markets on the continent since 2020.