So, the team is working tirelessly. They’re executing really effectively. But this go-to-market engine is now starting to crank and the results — the results are as we mentioned today are more merchants coming to Shopify much more larger merchants come to Shopify.
Carrie Gillard: Thank you for your question. Our next question will come from Mark Mahaney at Evercore ISI.
Jocelyn Hung: Hi. This is Jocelyn asking a question for Mark. Could you hear me?
Jeff Hoffmeister: Yes.
Jocelyn Hung: Okay. Can I ask a quick question maybe on Amazon? Just, I know before to sell, to explore Amazon partnership was on the table. So, I wonder like, is there still possible not maybe not just in terms of buyer’s time, but also payments or kind of help us think about what are some considerations you have there?
Jeff Hoffmeister: Yeah, I mean conversations with Amazon remain productive, but no news to share right now.
Jocelyn Hung: Okay. Got it. Thank you. And then maybe [Technical Difficulty]
Carrie Gillard: Thank you for your question. Our next question will come from Samad Samana at Jefferies. It looks like he dropped out of the queue. Our next question will come from Paul Treiber at RBC Capital. Paul, are you there?
Paul Treiber: Yes. Sorry, I was muted. Thanks very much. Just on the large enterprise, you called out a number of wins. Should we assume that most of the growth that you’re seeing in large enterprise is Shopify Plus? Or are you seeing a lot of the growth and momentum pick up in Commerce Components? And is there any metrics that you can share just on the growth in Commerce Components in general?
Jeff Hoffmeister: Yeah. I mean, look, in terms of Shopify Plus, very strong year-on-year plus growth in Q2. We actually outpaced GMV growth from Standard merchants and we’ll continue to see that Plus business grow. The Plus merchant base saw really strong year-on-year growth as a result of both upgrades and also new brands joining, that’s important to us because we want to make sure that the most successful brands, the home-grown success stories graduate on Shopify and never leave us, and we’re seeing that, but we’re also seeing a lot of new brands joined the platform as well. The reason that CCS or Commerce Components is important to us is, again, it starts the business relationship with businesses that aren’t necessarily ready to fully migrate over.
So by giving them a really a selection of 30 modular components from storefront to checkout to omnichannel capabilities, it means that we’re able to begin that relationship, and over time, get more and more of their business. A lot of the names that you’re hearing about today, obviously, there’s a little bit of a longer sales cycle with some of the large enterprise brands. A lot of them those conversations started before we announced Commerce Components. But the fact that we have this incredible enterprise solution in a box with Plus, and we also have this alternative, which is this modern composable commerce stack for enterprise retailers means that we can have conversations with, frankly, pretty much every major brand — pretty much every retailer on the planet, and that wasn’t possible years before.
Carrie Gillard: Thank you for your question. Our next question will come from Todd Copeland at CIBC.
Todd Copeland: Good evening, everyone. I wanted to ask about your GMV strength and what you think it says about the possibility of a recession. Thanks a lot.
Jeff Hoffmeister: Go ahead, Harley.
A – Harley Finkelstein: Yeah. I’ll just kick off, and I’ll hand it over to Jeff. I mean, obviously, GMV being up 70% year-on-year in Q2. We outpaced the broader U.S. retail market. In terms of trends, I mean, Shopify has so many millions of merchants and stuff. And so the one thing that connects most of the merchants — all the merchants on the platform is that fundamentally the merchants on Shopify have consumers’ favorite brands. And so we continuously see and we’ve seen this for a long time now that merchants are — that consumers are voting with their wallets to buy from their favorite brands. And we are fortunate, and we work hard at this, but those favorite brands are on Shopify. So whether it’s something like the Barbie effect that is happening right now, obviously, we’re the commerce partner for Mattel, across the board, we’re seeing doll sales up 56% and play vehicles up 70%.
So ultimately, I think it’s important this direct-to-consumer trend is happening. It continues to grow. But the key for us is to make sure that the best, most important and the brands that consumers love are on Shopify. Jeff, do you want to add?