Ocado has reported a consistent shift of customers from Tesco over the past year.
- Ocado’s sales increased significantly, with a notable 15.5% rise in the last quarter.
- The company has successfully attracted a diverse range of new customers, highlighting its broad appeal.
- Price reductions across various products have contributed to Ocado’s growth.
- Ocado is currently recognised as the fastest-growing supermarket in recent weeks.
Ocado has experienced a remarkable shift in customer loyalty over the past year, with a significant number of shoppers moving from Tesco. This trend has been sustained over twelve consecutive months, indicating a strong and consistent preference shift towards Ocado.
Sales at Ocado surged by an impressive 15.5% to £658 million in the quarter ending 1 September, reflecting the successful capture of new customers from various retailers, including discounters and online platforms. This growth underscores Ocado’s expanding influence in the supermarket sector.
The surge in new customers is not confined to a specific demographic; instead, Ocado has attracted a wide range of individuals varying in age, income, and geographical location. This diverse customer base suggests a broadening appeal, reflecting Ocado’s strategic efforts to reach a wider audience.
To enhance its market position, Ocado has introduced multiple rounds of price cuts since June 2023. These reductions have been applied to a vast array of products, including well-known brands and smaller challenger brands, as well as M&S food and drink items. This strategy has been instrumental in enhancing Ocado’s value proposition.
Data from NIQ confirms Ocado as the fastest-growing supermarket over the recent 12-week period, with a considerable sales increase of 15.4%. This accolade highlights Ocado’s effective strategies in capturing market share and boosting sales.
Ocado’s strategic initiatives have successfully positioned it as a formidable competitor in the supermarket industry, driving substantial customer growth from rivals like Tesco.
