Caroline Hyde

I mean, look, if you look at top selling countries across the world where Shopify sells, we have millions of stores.

In places like the US, we power 12% of all e-commerce.

So we have a really great view of things.

US, UK, Australia, Germany, and Canada are the top five.

Look at top three selling cities.

You see LA, New York, and London.

In US alone, LA, New York, and San Francisco are the top three.

The other thing that we also saw is cross-border, but 17% of orders were cross-border orders, so shipped to a different country as well.

And then in terms of top-trending merchants that we saw, we saw Hatch, which is sort of this, they have something called the Restore 3, which is this phone-free alarm for kind of morning routines.

Crunch Labs has this sort of kids' build-it-yourself monthly toy subscription.

Brook Linen on their super plush robe, and then Base has their weekender travel bag as well.

So we're seeing across a bunch of different verticals do really well.

But a big thing actually that we're seeing now is last year seemed to be a lot of talk about getting outside.

Gifts were about, the products being sold were about, you know, things like skiing or hiking or camping.

This year seems to be that home is really, you know, the winner here where people are buying things for their home, whether it's kitchen stuff for the kitchen or puzzles or blankets.

But generally, consumers are buying from brands they love.

And we're fortunate those brands are on Shopify.

What does that cross-border stat, that 17 percent signal to you?

Is that growing?

I mean, how does that stand up to last year when perhaps tariffs weren't such a headwind?