Online grocer Ocado has reported a good beginning to its new financial year as its key metrics advanced.

Hannah Gibson - press shot

Ocado chief executive Hannah Gibson: “Our strategy is resonating with customers” 

Ocado, a joint venture between Ocado Group and Marks & Spencer, said that sales, volumes and basket values all climbed.

Retail revenue was up 10.6% year on year to £645.3m in the quarter to March 3, when volumes rose 8.1% to 242.1 million items. 

Ocado generated average orders per week of 414,000 – up 8.4% on the comparable period – while the number of active customers was up 6.4% to 1.02 million.

The average basket value was up 2.1%, although the size by items edged down 0.2%. Average selling price was up 2.2%. 

Ocado Retail chief executive Hannah Gibson said: “We have made a strong start to the year, building on the momentum we established in 2023 through the progress of our ‘Perfect Execution’ programme.

“We are delivering improvements in our proposition for customers across unbeatable choice, unrivalled service and reassuringly good value. During the first quarter, we stepped up our efforts, enriching our product range with the strong growth of core M&S grocery lines and the debut of Makers Market, using our unique model to showcase incredible small brands – further enhancing slot and product availability, and lowering the price of 1,700 more products.

“Our strategy is resonating with customers and volume growth is building well. There’s still so much more we can do and I’m looking forward to raising the bar even further in 2024.”