“So I think there will be some stabilization in that kind of relationship such that next year is going to look more like essentially what this year looked like, which is where you've got some volume growth, a more normal level of volume growth, a more normal level of pricing, with a kind of a top-up of what will still be a residue amount of high-inflationary countries.”

In context

“comes from Robert Moskow from TD Cowen. Please go ahead. Your line is open. Robert Moskow: A quick question. You expect price/mix to decelerate next year. Some of it's due to North America, some of it's due to hyperinflationary markets. So do you expect any benefit to volume from that? Like is there elasticity assumption? You did sound very positive about volume into 2025. Thanks. James Quincey: Yes. There is a certain mechanical effect to price/mix and volume. In other words, I'm expecting 2025 to be the inverse of the third quarter. In other words, I would expect the emerging markets to retake their more traditional position of growing faster than the developed economies, which will obviously contribute to volume growth, but instead of -- but it won't contribute to a positive price/mix. So I think there will be some stabilization in that kind of relationship such that next year is going to look more like essentially what this year looked like, which is where you've got some volume growth, a more normal level of volume growth, a more normal level of pricing, with a kind of a top-up of what will still be a residue amount of high-inflationary countries. And that's likely to be where 2025 is heading. Robert Moskow: Thank you. Operator: Our last question today will come from Carlos Laboy from HSBC. Please go ahead. Your line is open. Carlos Laboy: Yes, good morning, everyone. I have a North America-specific question. Can you tell us more about the improving system digital capabilities are being built that you might find most promising as you look forward to accelerating volume and revenue growth? And how are you compelling the bottlers to make investments behind these capabilities? James Quincey: Yes. Sure, Carlos. I mean, from a bottling system point of view, I think in a way, it's the expansion of the digital engagement with the retail system. I mean there was always the electronic ordering in the modern trade, and that's been around a l”