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We do not believe Q4 will be a quarter with light at the end of the tunnel but we do feel 2024 will be better, supported by 1) improving consumer confidence, 2) declining interest rates helping the affordability and 3) increasing real wages. Also, TVs, gaming sets and computers bought during the pandemic will be coming up to three or four years old and due for replacement. We regard Verkkokauppa as a high beta play to reviving consumer sentiment.
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