Ocado has reported a significant shift of customers from Tesco over the past year.
- The online supermarket’s sales increased by 15.5% in the latest quarter.
- Ocado’s active customer base grew by 10.3%, reaching 1.06 million users.
- Price reductions have been a strategic move by Ocado since mid-2023.
- Ocado’s broad appeal spans diverse demographics and geographies.
Ocado has experienced a noteworthy trend of customers migrating from Tesco over the past twelve months, as confirmed by Ocado’s chief executive, Hannah Gibson. This shift has been consistent and also involves customers switching from other major retailers and discounters.
The company has reported a 15.5% surge in sales, amounting to £658 million for the quarter ending 1 September. Additionally, Ocado has seen a 10.3% increase in its active customer base, which has now reached 1.06 million users.
In an effort to broaden its appeal, Ocado has implemented six rounds of price cuts since June 2023. The reductions have been applied across a range of products, including well-known brands and the M&S food and drink range, resulting in significant savings for customers.
Hannah Gibson has highlighted the diverse nature of Ocado’s customer base, spanning various ages, income levels, and geographical locations. This diversity is seen as a positive indicator for the company’s future growth potential.
Ocado’s strategic approach and diverse customer attraction have solidified its position as a fast-growing supermarket.
