Jan 17, 2023
Ocado says shoppers buying fewer items as costs rise
Shoppers using online grocer Ocado are buying fewer items as they struggle with the soaring cost of living. Ocado also said shopping patterns seen during the pandemic - when online sales surged - had begun to "Unwind". Last week, Sainsbury's said people were shopping more in-store, as many found it easier to shop around for the best deals in shops rather than online. Ocado Retail - a joint venture between Ocado and Marks & Spencer - said its revenues fell by 3.8% in 2022 to £2.2bn. It blamed the fall on "An unwind of pandemic shopping behaviours, accelerated by the onset of the current cost of living crisis". Ocado Retail chief executive Hannah Gibson said the current market was "Challenging for everyone", and the retailer is expecting to see lower basket sizes in the first half of this year.
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