With the ongoing coronavirus pandemic totally reshaping the way people shop for groceries and pushing hundreds of thousands of consumers online, how has the UK’s only pureplay grocer really fared in lockdown?
Ocado today updated the City with its results covering the lockdown, which saw both online grocery sales and demand surge historically.
While Ocado’s results covered the 26 weeks ending May 31, 2020, compared with Sainsbury’s and Tesco’s 16-week updates, they bear comparison as they take in the manic three-month period where grocery retail seemingly changed forever.
Ocado founder Tim Steiner was bullish about his business’ performance. More importantly, given the group’s increased focus on world domination through its technology Solutions arm, Steiner was also convinced that online grocery demand has passed the tipping point from which there is no return.
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