Block Sees 6 Million Transactions This Black Friday, Cyber Monday as Canadians Go "Back to the Block" for Holiday Shopping

Dec 01, 2025

Data reveals an 18% year-over-year increase in transaction volume during the big shopping weekend as consumers backed local businesses

TORONTO, ON - Block, Inc. (NYSE: SQ) today released its Black Friday, Cyber Monday results, revealing a telling shift toward local spending as Canadians prioritize neighborhood economies. The data shows Block’s ecosystem processed more than 6 million transactions across Square and Afterpay during the four-day shopping period.

Key highlights from Black Friday, Cyber Monday weekend in Canada include:

  • Total transaction volume: 6,154,865 an 18% increase year-over-year across Block’s ecosystem
  • Total consumers: 4,237,807 unique consumers engaged with Square and Afterpay
  • Local businesses served: More than 158,793 during BFCM weekend
  • Peak Spending Minute: 2:22 PM ET on Saturday, processing 3,371 transactions
  • Peak Spending Day: Saturday across all neighborhoods, with 1,879,010 transactions on that day alone
  • The local loyalty hotspot: Toronto’s Queen West saw the most repeat customers over the course of the weekend
  • Busiest Neighborhood: Queen West with 211,418 local transactions
  • Most Active Square Seller: An entertainment and hospitality group in Ontario, processing 11,387 transactions
  • Highest Single Transaction: $50,000 at a seller in Calgary
  • Gift card purchases: 12,009 total purchases, surging 88%

“We’re witnessing a fundamental shift in how Canadians shop,” said Nick Molnar, Head of Global Sales and Marketing at Block. “Consumers aren’t just spending – they’re spending smarter and choosing to invest in their local communities. Our ecosystem is enabling this transformation, connecting neighborhood businesses with today’s digital-first consumers.”

Transactions across Calgary, Toronto, and Vancouver:

Calgary

  • Total BFCM Weekend Volume: $15 million
  • Average Transaction Size: $54.54

Toronto

  • Total BFCM Weekend Volume: $39 million
  • Average Transaction Size: $57.23
  • Highest percentage of online transactions

Vancouver

  • Total BFCM Weekend Volume: $28 million
  • Average Transaction Size: $44.93
  • Highest percentage of in-store transactions and largest 23% year-over-year transaction volume growth compared to other cities

Category Leaders:

Fastest-growing local sectors YOY:

  • Beauty & Cosmetics: 14% growth
  • Animals & Pet Supplies: 14% growth
  • Sporting & Outdoor Recreation: 8% growth

Top trending products in local retail:

  • Shirts & Tops
  • Pants
  • De-Icers

Neighborhood Economic Impact Spotlight
Block’s data reveals a powerful “neighborhood network effect” where integrated payment tools accelerate local economic growth. The data from across Black Friday, Cyber Monday also shows generational trends in shopping habits. Gen Z and Millennials are driving the surge in local spending as they accounted for 77% of all transactions across the Block ecosystem.

“These numbers tell a powerful story about the future of commerce,” Molnar added. “When we give sellers the right tools and consumers more flexibility, local economies thrive. The integration of Square and Afterpay is creating a network effect that benefits everyone – from the corner store to the consumer.”

For the complete Block BFCM 2025 Commerce Report, including detailed data visualizations and neighborhood-specific insights, visit https://block.xyz/bfcm/2025

Methodology
All data presented are unaudited and subject to adjustment.

Black Friday and Cyber Monday: Square, Afterpay, and Cash App Card** analyzed millions of transactions across all seller industries in the U.S. in 2025 from November 29, 11:00 UTC to December 2, 23:59 UTC. All monetary metrics are displayed in USD.

*Block Consumer Spend Transactions is a metric Block’s Marketing Team uses to measure consumer spending across different businesses during busy periods such as Black Friday Cyber Monday. Block Consumer Spend Transactions includes all posted and pending credit card, debit card, and cash transactions at Square sellers, Cash App Card transactions, and Afterpay transactions. Block Consumer Spend Transactions does not represent Square GPV or overall Block GPV.

About Block, Inc.
Block, Inc. (NYSE: SQ) is a global technology company with a focus on financial services. Made up of Square, Cash App, Spiral, TIDAL, and TBD, we build tools to help more people access the economy. Square helps sellers run and grow their businesses with its integrated ecosystem of commerce solutions, business software, and banking services. With Cash App, anyone can easily send, spend, or invest their money in stocks or Bitcoin. Spiral builds and funds free, open-source Bitcoin projects. Artists use TIDAL to help them succeed as entrepreneurs and connect more deeply with fans. TBD is building an open developer platform to make it easier to access Bitcoin and other blockchain technologies without having to go through an institution.

About Square
Square makes commerce and financial services easy and accessible with its integrated ecosystem of commerce solutions. Square offers purpose-built software to run complex restaurant, retail, and professional services operations, versatile e-commerce tools, embedded financial services and banking products, buy now, pay later functionality through Afterpay, staff management and payroll capabilities, and much more – all of which work together to save sellers time and effort. Millions of sellers across the globe trust Square to power their business and help them thrive in the economy. Square, Cash App, Spiral, and TIDAL are a part of Block, Inc. (NYSE: XYZ)). For more information, visit www.squareup.com.

About Afterpay
Afterpay is transforming the way we pay by allowing customers to buy products immediately and pay over time - enabling simple, transparent and responsible spending. We are on a mission to power an economy in which everyone wins.

Afterpay is offered by thousands of the world’s favorite retailers and used by millions of active global customers. Afterpay is currently available in Australia, Canada, New Zealand, the United States and the United Kingdom, France, Italy and Spain, where it is known as Clearpay.. Afterpay is a wholly owned subsidiary of Block, Inc. (NYSE: XYZ).

Media Contact:
press@block.xyz