June 13, 2022: -On Thursday, Adobe chief executive Shantanu Narayen told CNBC that some categories of e-commerce are facing price decreases and support the expectation that online shopping among consumers will hold firm,
“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 you’re seeing some price decreases in elements like electronics or things that are happening with games,” Narayen added.
Inflation of groceries is still at the peak, he further said. The CEO commented just before the May consumer price index, which measures data mainly from non-online outlets, is ready to come out.
On Thursday, Wall Street is looking forward to the data as a measure of the state of inflation, with stocks decreasing for the day.
According to Adobe’s most recent digital economy index, Narayen also noted that consumer spending increased by $1 billion from April to May.
“Nothing’s going to change as it concerns people saying, ‘I want to do digital engagement, I want to buy digitally perhaps, pick up physically and you know, the multichannel thing,” he said.