If the second half of our year was to be defined by one topic, that topic would be GLP-1s. With the rise of drugs such as Ozempic and Wegovy, GLP-1 medications have been all the rage in the later half of 2023 due to their weight loss and impulse suppression effects. Still, the share of consumers currently using GLP-1s remains relatively low for the moment as they’re in the early stages of consumer adoption. People on the drugs have reported to be consuming les calories and altering their behavior around food and eating. Across the consumer sector, the negative impacts that the drug has had on the market are most widely reflected on categories such as snack food and casual dining. In terms of TAM projections, there is clearly more interest amongst folks that suffer from conditions such as type 2 diabetes, sleep apnea, and obesity. We believe that the time series data that we will be tracking going forward will be especially useful in figuring out just how much of an effect these drugs will have on the market at large.