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What Ocado’s latest figures say about the way its customers buy

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Ocado today released a trading statement for the 13 weeks to February 26. We took a look at what it says about how the online grocer’s customers are now buying from them.

More customers

Overall sales continued to grow (+13% year-on-year) as new and existing customers place more orders (+16.7%). Altogether, shoppers placed an average of 252,000 orders a week in the first quarter of Ocado’s financial year. These, says Ocado, came from new and existing customers.

Spending less each time

Order sizes fell – by 1.6% to £110.84. Ocado says the fall came as customers who joined its Smart Pass delivery subscription scheme bought more frequently. This also means, it says, that they stay more loyal. It said the rate of decline was slower than in previous quarters.

Ocado warned, however, that prices might rise in future. Chief executive Tim Steiner said: “While the market remains very competitive, there are the first signs of a change in market pricing dynamics coming through. However, it remains too early to predict how this will unfold throughout the year, and in particular is dependent on any future currency movements.”

Ocado says it’s all about the service

The retailer sees a steady move to online shopping, according to Ocado chief executive Tim Steiner. He said: “We are pleased with the steady progress and growth achieved in the period, as shoppers continue to embrace our proposition for online shopping. We believe our commitment to further improving the customer experience and service through constant innovation, supported by proprietary technology developments, will enable us to continue to grow ahead of the online grocery market, and substantially ahead of the market overall.”

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