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Ocado sales surge by over 40%

Online grocer Ocado has reported a 40.4% year-on-year uplift in retail revenue so far in its second quarter as it continues to benefit from a large… View Article

FOOD & DRINK

Ocado sales surge by over 40%

Online grocer Ocado has reported a 40.4% year-on-year uplift in retail revenue so far in its second quarter as it continues to benefit from a large rise in orders since the covid-19 lockdown.

This compares to growth of 10.3% in its first quarter.

In a trading update, the retailer said demand from customers increased significantly at the beginning of the disease outbreak, and almost overnight. Having adapted its platform to meet the unprecedented level of business, Ocado is now selling more groceries than ever before.

The retailer said the number of items per basket now appears to have passed its peak, but still remains high.

Tim Steiner, Ocado chief executive, said: “We are facing quite a different challenge to many, as we scale up Ocado.com to play its part in feeding the nation, and as we help our clients launch and roll out their online businesses more rapidly against a backdrop of a likely long term increase in demand for online.

“Ocado remains in a strong position and while we should be grateful that our current challenges are around growth, expansion and increased demand, we have great empathy for all who are facing different challenges at this time. In retail, we are working with our small suppliers to make sure we pay them earlier than normal and we will work closely with any who are struggling”.

To keep both customers and staff safe throughout the pandemic, Ocado has introduced contact-free deliveries to the doorstep of customers’ homes and started carrying out staff temperature monitoring at all of its customer fulfilment and spoke facilities. It is also regularly testing its frontline staff for covid-19.

 

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