Ocado has reported significant customer gains from Tesco and other retailers over the past year.
- A diverse range of customers are switching to Ocado, reflecting broad appeal.
- Ocado’s sales growth continues with a 15.5% rise in the last quarter.
- The company has introduced multiple rounds of price reductions to remain competitive.
- Recent data positions Ocado as the fastest-growing supermarket in the UK.
Ocado has observed a pronounced shift in consumer behaviour, with notable customer migration from various retailers, particularly Tesco. This trend has persisted for 12 consecutive months, according to Hannah Gibson, Ocado’s chief executive. Gibson notes the company’s appeal spans different demographics, income levels, and geographic locations, indicating a broadening consumer base.
Sales figures for Ocado have shown a robust growth trajectory, with a 15.5% increase totalling £658 million for the quarter ending 1 September. This growth is complemented by a 10.3% rise in active customers, reaching a total of 1.06 million.
To enhance its market position, Ocado has implemented strategic price cuts, including its sixth round of reductions since June 2023. These cuts impact a variety of products, from major branded goods to emerging challenger brands, as well as the M&S food and drink range.
The latest figures from NIQ highlight Ocado’s position as the fastest-growing supermarket over the past 12 weeks, with sales up by 15.4%. This affirms Ocado’s strategy to attract a wider customer base through competitive pricing and service enhancements.
Ocado’s strategies and market adaptability have solidified its status as a leading supermarket, attracting a diverse clientele and achieving remarkable growth.
