Various categories of e-commerce are seeing price decreases and support the expectation that digital shopping among customers will hold strong, Shantanu Narayen, Adobe CEO said on Thursday.
“When you look at the total expense, in addition to the macroeconomic, where there may be a little bit more concern, what’s happening is actually you’re seeing some price decreases in elements like electronics or things that are happening with games,” Narayen said in an interview.
The inflation in the Grocery is still high, he added.
The comments come a day before May consumer price index, that measures data mostly from non-online outlets, is yet to come out. The CEO also noted that the spending increased by $1 billion from April to May.
“Nothing’s going to change as it relates to people saying, ’I want to do digital engagement, I want to perhaps buy digitally, pick up physically and you know, the multichannel thing,” he said.