Online Grocer Ocado Attracts More Customers with New Promises and Services
- Q1 sales increased by 3.4% to £584m
- Average orders per week rose 3.6% to 381,000
- Active customers reached 951,000, up 13.8% year-on-year
- Average basket value remained flat with a 7.5% fall in items bought and an 8.3% rise in average selling prices
- Order frequency returned to pre-Covid levels
- Ocado continues to attract customers through investments in value, choice, and service
- Focus on smaller suppliers and M&S products
- Expects momentum in the second half of 2023 with improved proposition and customer growth
British online supermarket Ocado Retail has reported a 3.4% increase in Q1 sales to £584m, compared to the same quarter last year. The rise is attributed to an influx of new consumers using its services. Average orders per week reached 381,000, with active customers reaching 951,000 at the end of the quarter, up 13.8% year-on-year. The average basket value remained flat due to a 7.5% decrease in items bought and an 8.3% increase in average selling prices. Ocado’s CEO, Hannah Gibson, stated that they are attracting more customers through investments in value, choice, and service, leading to more perfect orders and improved delivery times. The company is also focusing on smaller suppliers and M&S products. Despite a challenging trading environment, Ocado expects momentum in the second half of 2023 with an improved proposition and customer growth, returning to sales growth and profitability.
Factuality Level: 10
Factuality Justification: The article provides accurate information about Ocado Retail’s Q1 2023 sales, the increase in new customers, average orders per week, active customer numbers, and the company’s outlook for future growth. It also includes a quote from the CEO that adds context to their performance and plans.
Noise Level: 4
Noise Justification: The article provides relevant information about Ocado Retail’s Q1 2023 sales increase and the factors contributing to it, along with the CEO’s perspective on future plans for growth and profitability. It stays on topic without diving into unrelated territories and supports its claims with specific numbers. However, it could benefit from more in-depth analysis or context about the industry and market trends.
Financial Relevance: Yes
Financial Markets Impacted: Ocado Retail’s stock price and other online grocery retailers
Financial Rating Justification: The article discusses the financial performance of Ocado Retail, a British online supermarket, and its sales growth in Q1 2023. This information can impact the company’s stock price and potentially affect competitors in the online grocery market.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: No extreme events mentioned in the article
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