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BigCommerce (BIGC) CEO Travis Hess sits down with Wealth Host Brad Smith to check in on the e-commerce environment after fresh inflation data offers insight into rising consumer prices.
"We're seeing a highly promotional environment," Hess says, explaining, "Allowing robust promotional capabilities for brands and being able to pull a number of different levers to not only control costs but encourage lower cost of customer acquisition."
Hess says the balancing act online retailers face is "how much do I push for promotional to get folks in, and buying and buying more at key critical times depending on my supply chain and inventory, but at the same time, not kind of over-indexing where that becomes the consumer expectation, and then they're not shopping you under normal circumstances."
He notes that the "natural consumer tendency" for online shopping is "looking for a deal, I'm trying to comparison shop, but there are still areas that are seeing stickier prices."
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This post was written by Naomi Buchanan.