Ocado is set to enhance its own-brand range with hundreds of new items focusing on seasonal lines. Current offerings will expand beyond 740 products by year-end, showing significant growth.
- The ecommerce grocery leader will further extend its selections next year after reporting a 12% increase in own-range sales.
- Customers increasingly lean towards own-brand items for their value and quality, with nearly 90% finding a wide range essential in supermarkets.
- Ocado experienced a 15.5% revenue increase, citing strong delivery of choice and value.
- Research highlights a consumer preference for own-brand dairy, meat, fish, and tinned goods.
Ocado is taking strides to broaden its own-brand range significantly next year, emphasising seasonal offerings. As of 2024, the company has introduced over 100 new items, with plans to surpass 740 available products by year-end, including new ventures such as microfibre cloths and baked beans. This expansion reflects growing consumer interest and economic adaptability, catering to budget-conscious shoppers.
The online retailer plans to broaden its range yet again, following a 12% uplift in sales of its own-brand items. These products now represent more than 10% of items found in customers’ baskets. This initiative appears to be a strategic response to increasing consumer demand for in-house brands, offering a competitive edge in the grocery market.
Simon Hinks, Ocado’s Retail Product Director, expressed pride in the diverse selection offered at various price points. “We know our customers love the Ocado Own Range for its quality and value,” Hinks stated, noting specific popular items like their take on classic baked beans.
A survey involving over 2,000 shoppers, conducted by Ocado in partnership with Savanta, underscores the heightened demand for own-brand products. An impressive 89% of respondents deem it vital that supermarkets offer ample value-focused options. Among the most favoured categories are dairy products, meat, fish, and canned goods.
Quality remains a priority for consumers, with half emphasizing its importance when purchasing store brands, while 31% have noted improvements in quality. Additionally, 72% are committed to continuing their own-brand purchases irrespective of economic shifts. This pattern suggests resilience in consumer behaviour, with own brands perceived as reliable and budget-friendly.
Driven by strong initial quarters, Ocado has revised its annual sales forecast upwards, attributing a 15.5% increase to £658 million in revenue for the 13 weeks ending on 1 September. This growth highlights effective strategies in providing a wide range of choices and effective value delivery to consumers.
Ocado’s significant expansion in its own-brand range reflects a strong consumer demand for quality and value, reinforcing its standing in the competitive grocery sector.
