Today, Allegro is even better capitalized than 3 years ago and the company has an even stronger brand with loyal customers (through “Smart!” and Allegro Pay). Allegro clearly understands the business model of Asian e-commerce businesses and utilities its strengths to outcompete them over the long run. Marketing spending is moving higher and the company is only going to emerge stronger from this war. During 2022 and 2023, inflation was globally elevated due to higher energy prices and the flood of liquidity that had occurred during 2020 and 2021. In Poland, this was especially evident with inflation running at >18%!