Boxed CEO Chieh Huang told FOX Business how his company is dealing with product shortages and discussed company plans to cut costs for consumers amid record inflation.
Boxed CEO Chieh Huang discusses how his company is dealing with product shortages and cutting food costs for his customers with a membership.
"What we're seeing is that the consumer is really in a difficult situation right now… a lot of folks are spending just basically on necessities almost paycheck to paycheck or meal to meals… they really need the help," he explained. When Varney asked if Boxed has a price increase set in for products distributed amid soaring inflation, he responded: "It depends on the category."
Boxed CEO Chieh Huang told FOX Business that the supply chain crisis took the wholesale industry ‘by surprise’ amid product shortages. "[Inflation] hasn't abated… where does this end?... As we discuss with these suppliers who are now bringing on more… cost increases, where does it end, for not only retailers but for the consumer? And that's what we've got our eye on," he said.
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