So we’re seeing high adoption already, which I shared just over 40%. So I feel really good in terms of the silhouette and just really reflecting our ability to widen the aperture, gain new consumers and even the architectural digest campaign, and they are known as being the number one style leader and furniture was just a tremendous way for us to be able to widen that visibility. Then in terms of Deltek, thank you for that question as well. Customers continue to love it, Matt, and I think you made a note of it in one of your reports being in some of the showrooms I was out in showrooms, even on Wednesday. They love the product experience, and they love the fact it’s backwards compatible, which we see as a very unique proposition in the market compared to others.
That — kind of want you to buy something and then a year, two years later, they’ve come up with a new model, and you have to buy that new model. So as we continue to drive the strong combination of technology, and really that opportunity in that wide space that we will own and drive for many years to come we’re feeling really good. So yes, Deltek, certainly for the holidays, we feel really good. So thank you for the questions.
Matt Koranda: Okay. Great, Mary. Thank you for that. And then on gross margins, just curious, I know you mentioned a more promotional environment. Obviously, we’re seeing that show up everywhere. But how much of a headwind are you guys factoring in on gross margins from promotions in the second half? I wonder if maybe, Keith could speak to that. And then just in terms of financing, any discernible change in the way that your customers attached to the financing offering that you have? And have those — I assume those costs have gone up for you guys, but just maybe speak to access to financing among your consumer set.
Keith Siegner: Sure, thanks. And I’m going to do it in reverse order. I’m going to start with the financing piece. So look, it really is a differentiator for us to have this product, the Lovesac credit card we work really closely with our partner on this. And it’s definitely an important part of the proposition for us. So from a percentage or contribution to demand perspective, it’s up a decent amount year-over-year. In fact, it’s up to over a-third of the dollars of demand in the fiscal second quarter, over 500 basis points increase in percentage. The piece that is also impacting our financials right now is the increase in costs, given the higher rates. So we think we still have a very competitive cost with our partner, but it is up year-over-year.
That is one of the primary drivers of the year-over-year growth and the deleverage that we’re seeing within SG&A. And you heard us outline those — you heard me outline that earlier. But what we’re doing in response to that is we’re testing what really makes the difference, right? What is the customer value and what drives behavior with The Lovesac credit card, is it the duration given that we’ve seen other people shortening duration of their offers? Where do we get the best customer impact for the best cost for us? And so we’ve been running a bunch of tests in different markets to optimize that. We feel like we’re in a pretty healthy spot, particularly here as we head into the all-important fourth quarter. So generally speaking, I think it is working, it’s accomplishing exactly what we wanted to, and we continue to fine-tune and optimize that balance between driving sales at optimal cost for us.
