Doug Lane: With all the changes going on at Nu Skin over the last couple of years there have been a substantial retooling of how you go-to-market. Has there been any real change in China or it still pretty much the same model you’ve been operating for the last several years?
Ryan Napierski: Yes, it’s a great question. We have continuously retooled that business, but this is where – and I appreciate you asking the question where our, where our business transformation has been interrupted, it really is around kind of the go-to-market. And during that COVID period with lockdowns, especially in China that most certainly disrupted the way we were historically going to market. You will recall some of our meetings historically were all about large group meetings. There were a lot of conversations with COVID that clearly stopped, but there are companies signaling that that’s kind of the return to growth path. We continue to believe that’s not the return to growth path, although meetings for training purposes always play a value for our salesforce training and education.
But in terms of reaching the mass customer, that’s got to be through a digital first strategy that we’ve started investing in and we believe in that future. And so where I would say is China’s probably been less progressive or we’ve been less progressive in China in evolving our go-to-market strategy than in other certain markets as just because of the dynamics of the macro and trying to get that business restarted there with a new approach has been more prolonged than we had hoped.
Doug Lane: Yes, that’s very helpful. Thanks Ryan. And just shifting gears here, James, can you talk about – I know you are not talking about 2024 specifically yet, but just on the inflation front, we’ve gone through – this huge wave of inflation that’s impacted everybody all over the place, can you just sort of give us your sense on how the inflationary environment is going to impact your outlook for 2024?
Ryan Napierski: Yes, Doug, and it’s good to speak to you again, like Ryan mentioned. This is something from inflationary pressures that we’ve been monitoring and evaluating throughout the last two years. We’ve looked at it how it impacts pricing, we’ve passed on some of those prices to the consumers, but also through our supply chain channels too, and how well it’s been doing to our costs. So we’re trying to be cognizant to make sure that we’re protecting our operating margins in the go forward. And so as we look out and we project end of year Q4, we’re looking at a operating margins very consistent with where we landed in Q3. As it pertains to 2024, we’re still monitoring, and looking at and evaluating what’s going to happen to our channel, what’s going to happen to our top line also, in addition to what type of growth we think we can see within our Rhyz investment arm through those different businesses that we’ve acquired.
Doug Lane: Okay, thanks. Great to speak with you again.
Ryan Napierski: Thanks, Doug.
Ryan Napierski: Okay, well this has been a fairly abbreviated call and I know some of you are stacked up with other readouts from other companies. So, we’ll keep it short, but I just wanted to thank you all for joining the call. As we reflect on this, many of the world’s greatest companies right now, we’re experiencing near term challenges given the macros. I want you to know our team is very committed to continuously evolving our business to position it for greater opportunities ahead. We firmly believe in our mission of being a global force for good, by empowering people to improve lives and doing that through our products and our opportunity to help people look, fill and live better. We will continue to be focused very much on this refining our strategic positioning and go-to-market plans to really give the world what it’s looking for.
So we look forward to updating you continuously, we know touching bases quarterly is very important. We’ll continue to do that and sharing more about our enterprise strategy in the months to come. So thank you all.
Operator: Ladies and gentlemen that does conclude our conference for today. Thank you for your participation. You may now disconnect.
