Ocado Retail has reported a significant surge in sales, marking a promising outlook for double-digit growth.
- Sales at Ocado increased by 15.5% to £658 million in the 13 weeks leading up to 1 September.
- The company noted an increase in average weekly orders, which rose by 14.7% to 437,000.
- Customer base expanded by 10.3%, reaching a total of 1.06 million active customers.
- Ocado has revised its annual sales growth forecast from mid-high single digits to low double digits.
Ocado Retail, a joint venture with M&S, has experienced a remarkable increase in sales performance over the past year. The online supermarket reported a 15.5% rise in sales to £658 million for the 13-week period ending on 1 September. This growth has been attributed to the company’s commitment to providing ‘unbeatable choice, unrivalled service and reassuringly good value.’ According to the company, this strategy has resonated well with consumers, resulting in sustained momentum.
Moreover, Ocado witnessed a 14.7% increase in average weekly orders, totalling 437,000 orders each week. This uptick in orders correlates with the company’s efforts to enhance its customer experience, including offering a broader selection of products and improving delivery services. Ocado’s mission to provide a seamless and high-quality shopping experience has led to this boost in customer engagement.
The online retailer has also seen a 10.3% rise in its active customer base, now amounting to 1.06 million. This expansion is indicative of Ocado’s successful strategies in customer retention and acquisition. With an increased number of customers, the overall sales volume of Ocado saw a notable upswing of 15.4%.
In light of these positive developments, Ocado has adjusted its full-year sales growth projection from mid-high single digit percentages to a more optimistic low double-digit figure. This revision underscores their confidence in continuing to capture market share and enhance their offerings to meet customer expectations effectively.
Chief Executive Hannah Gibson expressed enthusiasm about these results, emphasising the company’s focus on providing more value through various initiatives, such as the Ocado Price Promise and Big Price Drop. Gibson stated, ‘We’re pleased with the progress we’re making and excited about how much more there is to deliver.’ Her comments highlight Ocado’s commitment to evolving its product range and service quality to further consolidate its market presence.
Ocado’s impressive sales growth and strategic focus suggest a promising trajectory for the future.
