There’s one exception, and that’s in Africa where mainstream consumers at this point are very focused on affordability, obviously, for all the known reasons. Inflation hit them much harder than mainstream consumers in other countries. So, when looking at the world at large, I don’t think that there is a premiumization game going on there. And there, we are focused actually on making sure we drive entry packs so that consumers can participate in our brands and will grow up with brands and get that brand familiarity. But in the other areas of the world, we’re actually very focused on premiumization, including in emerging markets. Graeme, on the 3% to 5%, and the constitution of volume versus value and then 2024?
Graeme Pitkethly: Let me actually start with the theme of cost inflation, the cost inflation outlook. So we’re guiding again for this year to the $2 billion of net material inflation that we saw last time we spoke. And obviously, that is weighted towards H1 versus H2 when we see a much lower level of inflation. I think it’s fair to say we can see us coming out the back of this incredible inflation period that we’ve had now and we expect our current outlook for inflation next year has it sort of normalizing back to the levels that we had before we entered the inflation spike. The reason I mentioned that is because your diagnosis is quite right. That does provide a tailwind to gross margin that comes through. I don’t expect that we will have deflation in pricing other than in a couple of specific areas, it’s possible in India because a couple of our categories in India fabric cleaning and skin cleansing are very heavily correlated to the underlying commodity prices and local competition reenters the market.
And we have to simply adjust pricing there in order to maintain competitiveness and our volume position, et cetera. So that’s one example. The second one is Indonesia where we have been resetting our pricing, and we’re starting, as we said in the presentation to see the benefits of that in terms of moving back into share positions in a few share-gain positions in a few of our categories. So they are the two ones that I would call out. But you’re right. It does provide a tailwind of gross margin. As we’ve said, that provides the bank for reinvestment. And we will reinvest, and this is getting to your question about quality of growth now in sustaining consistent higher level of growth with better quality in the form of a higher volume component.
Now you’re right, we’ve never guided to a specific number on volume, and we won’t do that. But I think at the Capital Markets Day, this year, we said that we wanted to see that, and we broadly spoke about it being balanced between price and volume, roughly 50-50, but we want more volume as a component of our growth, and we want to deliver that more consistently. In terms of ’24 guidance, we expect ’24 will be within the framework that we’ve set out, of course, but we’re going to come back to you with the full year results in February and give you more detail on 2024.
Jemma Spalton: Our final question comes from Victoria at [indiscernible]. Please go ahead, Victoria.
Unidentified Analyst: I have just one question left on strategy. When I look at all the initiatives related to SKU optimization, focus key brands, change in culture. It’s very similar to basically every other company in staples is doing. So my question within this framework is with gross acceleration, do you expect market share gains? And if so, why are you expecting to gain market share from? Is it private label on local producers in emerging markets and private label and developed or do you see some specific sort of competitor characteristics where you think you can regain lost market share in recent years?
Hein Schumacher: And look, very clear, and yes, many of the themes that we are talking about, you would recognize in CPG companies, and I agree with that, but it comes down to — obviously, it comes down to execution. It comes down to our abilities and our capabilities to do so. And since it’s the last question, if you allow me, Victoria, I just want to reiterate something I think that’s really important. I talked about opportunities to improve in Unilever, but I talk about that from a position of, hey, we have inherent significant strengths, but we need to dial them up where we can, and we need to be much sharper in our choices that we make and make things a lot simpler and do it with great level of impact. That’s what the plan is about, and that’s what we talked about.
Now when you talk about share improvement, I think most importantly, we’re not in the game here of just simply stealing share. For us, priority number one is to make the market and therefore, to develop the market and enlarge the categories. So when I talk about innovation and technology platforms, they are very much aimed at making sure that we offer the consumer something extra, something that’s not there, so that we, together with our retail partners, create more value for the category as a whole. And if we do that well, since we are the number one or two in 80% of our business, in the category, that will mean that we will grow our share accordingly. So and within that market development framework, we see, as we talked in the previous question, we see premiumization as an important trend, but there are others to address.
