“Those are the things that I would see that make me believe that the second half of the year will look better for us in North America.”

In context

“motions; longer term, probably working on the size of our packs to make sure that we hit those right price points. Because if we see anything in the elasticity, it is that we have surpassed certain price points and that is having a big effect. Now I would say that movement is happening already. So that's what we gradually will expect to improve in the coming months, i.e., that our promotional and pricing strategy gets better, that we understand better how to get the frequency and the volume from the consumer. I'm also expecting that the overall consumer confidence in the second half of the year will improve. That will have an effect for us. There is a lapping effect. Last year, we had 16% growth in North America. Of course, that plays a role. The lapping later in the year will be easier. Those are the things that I would see that make me believe that the second half of the year will look better for us in North America. Christopher Carey: Okay. One quick follow-up on cocoa. Luca, you gave a lot of helpful commentary around some of the things that you're going to be doing or are doing now contractually and you also have an expectation in September and October. I guess the question is, what if cocoa sustains these really high levels and we don't see the fundamental break expected going into next year, is it still appropriate to think about pricing as the core mechanism to cover the inflation? Or given the lead time that you have to prepare, maybe there are other alternatives like accelerated savings, RGM, the sorts of things that you can do when you have many months to prepare for such cycles, if indeed, you believe that the cocoa prices at some point will eventually break. So it's just more game theory,”