Adobe CEO Shantanu Narayen had some good news for the e-commerce sector, saying that dropping prices in some categories should help fuel strong shopping.
Government and business leaders the world over are worried about the state of the economy. Rising inflation, supply chain issues, unfilled jobs, the war in Ukraine, and other factors threaten an economic downturn. JPMorgan CEO Jamie Dimon likened it to a hurricane, although it’s still unclear how bad a hurricane it will be. Despite the cause for trepidation, Narayen believes the e-commerce sector has some reason to be optimistic.
“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 on Mad Money.
As a result of the decreased prices, especially in categories that have previously been hit hard by supply chain issues, Narayen believes digital shopping will continue at a healthy pace.
“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 multi-channel thing,” he added.
Narayen’s comments are some of the few elements of good news amid the economic uncertainty.