Ocado Retail has upgraded its annual sales forecast following a successful nine months.
- Sales surged by 15.5% in the recent quarter to £658 million.
- The number of weekly orders increased significantly to 437,000, a 14.7% rise.
- Customer base expanded by 10.3%, reaching 1.06 million active users.
- Annual sales growth is expected to shift from single-digit to double-digit figures.
Ocado Retail, a collaboration with Marks & Spencer, has adjusted its sales projections for the year upwards after demonstrating strong performance in its first three quarters. The online grocer reported a 15.5% increase in sales, totalling £658 million over the 13 weeks ending 1 September. The company attributed this success to its commitment to providing ‘unbeatable choice, unrivalled service and reassuringly good value’.
The period saw a remarkable rise in average weekly orders, which spiked by 14.7% to reach 437,000. This growth was further fuelled by a 10.3% increase in active customers, culminating in a total of 1.06 million users. These figures reflect a growing consumer preference for Ocado Retail’s offerings and its strategic positioning in the market.
Consequently, Ocado has revised its full-year sales guidance, now anticipating a shift from a mid-to-high single-digit percentage growth to a more optimistic double-digit percentage. This change underscores the company’s forward momentum and confidence in sustaining its competitive edge through enhanced service and product availability.
Hannah Gibson, Chief Executive of Ocado Retail, emphasised the strategic focus on enhancing customer experience. She remarked on the ongoing improvements in order accuracy and value offerings, including the extension of M&S food selections and a focus on convenience through more delivery slots and products. ‘We are continually refining our proposition to meet customer needs and uphold high service standards,’ she stated.
Ocado Retail’s strategic initiatives and performance improvements have poised it for significant growth.
