Damian Gammell: Yes. I mean it’s not that extreme historically. So I think what you’ll see is typically — and again, as you said, it still differ by market. So you may see private label on a volume side picking up a point to share, which overall on the value side would be a lot lower, given their pricing. Clearly, they also faced some of the same commodity headwinds that we faced. So we’re also seeing private label pricing move as well because of all of the commodity impacts that Nik outlined, they face the exact thing. So we’re also seeing that happening. So you’re looking in that range, and I suppose it’s pretty consistent across our markets. But if I look back and we have looked back and we’ve seen what’s happened in previous years where consumer spending has been challenged, you’re looking at a small share move, Robert, nothing too dramatic.
Nik Jhangiani: And again, just on that pricing, keep in mind that as a relative level that COGS impact is significantly higher for them, so their absolute pricing has had to move a lot more. So just keep that in mind as well.
Damian Gammell: And obviously, it doesn’t impact that 40% plus revenues that I talked about earlier in outside of retail. So again, compared to other CPGs we’ve got 80%, 90% of the revenue locked in retail, we’re well balanced. So I think that also gives us confidence to deal with that going forward.
Robert Ottenstein: That’s great perspective. And then just my last question. Could you please give us an update on your digital initiatives and to what extent you’re implementing, kind of a micro targeting of coolers and displays and other sort of ways that that’s improved your execution?
Damian Gammell: Yes. I think we outlined some of those initiatives on our Capital Markets event in November. We continue to invest behind digital analytics. It’s driving a lot of a good decision-making. I suppose a couple of areas that I get excited about with the team in particular, is promo efficiency. So we’re being much more targeted around promos and what works, what drives value for us, for our customers, what drives household penetration. We’ve added a lot of households last year. So I think that’s working. We’ve taken on board some of the learnings from our Australian business back into Europe around looking at some post code analytics to understand really where we’re doing really well and potentially where we see share opportunities and then tailor making our proposition to those particular assets, whether that’s display, as you called out, coolers, merchandising frequency, promo frequency are indeed advertising in and around the store.
So there’s a lot of different initiatives. We’re also continuing to drive over €2 billion of revenue through our online B2B portal, which I think is one of the biggest globally now. And we’re adding more services to that for our retailers. So they can continue to use that for a number of initiatives beyond ordering. So a lot happening across the board, Robert, and it’s something that we’ll continue to invest in. And honestly, we’ve made great progress. But in many ways, we’re still at the beginning. I think every conversation I have with the team, there’s a new idea coming up. There’s a new initiative. So it’s a very exciting part of our business. And I think we’re leading, but I think honestly, we still have a long way that we could go.
Operator: We will take our next question. Our next question comes from the line of Brett Cooper from Consumer Edge.
