Ocado has revised its annual sales forecast upwards, anticipating double-digit growth due to outstanding performance.
- Sales surged by 15.5% reaching £658 million in the 13 weeks leading up to September 1, 2024.
- The number of weekly orders climbed by 14.7% alongside a 10.3% increase in active customers.
- Ocado credits its success to offering extensive choices, superior service, and excellent value.
- The company remains optimistic about further growth, highlighting key strategies like improved product availability.
In a remarkable display of commercial resilience, Ocado has adjusted its sales predictions for the full year of 2024, now projecting low double-digit growth. This significant revision comes in the wake of a robust first three-quarters performance where the company’s sales surged by an impressive 15.5%, amounting to £658 million over the 13 weeks ending on 1 September 2024. The elevated sales figures underscore Ocado’s successful strategy of delivering a combination of unbeatable choice, unrivalled service, and competitive pricing.
Ocado has also witnessed a notable increase in customer engagement this quarter. The average number of orders per week rose by 14.7%, reaching 437,000. Concurrently, the company benefited from a 10.3% rise in active customers, bringing the total to approximately 1.06 million. This uptick points to Ocado’s effective penetration in the digital grocery market and reinforces its dominance as a leading player in the industry.
The chief executive of Ocado Retail, Hannah Gibson, attributes this success to the company’s focused strategy on providing customers with extensive options, enhanced service quality, and great value. She highlighted several strategic initiatives that have propelled this growth, such as the inclusion of a broader range of M&S food products, enhanced convenience through better delivery slot availability, and the successful implementation of the Ocado Price Promise and Big Price Drop campaigns.
Such positive momentum and customer-centric strategies have afforded Ocado the confidence to bolster its sales forecasts. The company remains enthusiastic about its ability to continuously enhance its service offerings and market position, ensuring sustained growth in a competitive landscape.
Ocado is well-positioned to continue its upward trajectory with strategic initiatives in place to sustain its competitive edge.
