Ocado credits value focus with sales growth
Improving value perceptions through initiatives like its Tesco price match have been crucial for Ocado Retail’s double-digit sales growth in the first half of the year, claims its CEO.
Ocado Retail has credited its focus on value as having driven sales growth over the past six months.
Sales at the online retailer, which is a joint venture between Marks & Spencer and the Ocado Group, grew 11.3% year over year in the 26 weeks ended 2 June. Average orders per week increased 9.2%, this was partly driven by new customer acquisition, with growth in active customers at 8.2%, but also by existing customers buying from Ocado multiple times a week.
According to the most recent figures from Kantar, Ocado was the fastest-growing grocery retailer for the fifth month in a row, with sales up by 10.7% over the 12 weeks to 7 July.
Ocado Group CEO Tim Steiner told investors today (16 July) that value has been key to the grocer’s success in recent months.
