Innovation is Part of Our DNA
Ocado has a proven track record as a disruptor within the grocery market. We have transformed the way the nation can shop for groceries by developing a unique model based on highly efficient, fully automated, Customer Fulfilment Centres (CFCs), flexible and easy-to-use customer software, and friendly and timely last mile delivery. This model delivers to our customers wider and fresher product ranges, competitive prices, and highly attractive service which, in turn, gives us a unique advantage in the UK grocery retail market to grow our customer base and take market share.
The fact that we have consistently improved our efficiency metrics while growing both revenue and market share is testament to our ability to consistently adapt technology to meet customer needs better.
We aim to commercialise our technical capabilities and proprietary technology through our Ocado Solutions business to help retail partners internationally launch and develop their own profitable and growing online operations.
More information about the progress we have made from innovations can be found in the Evidencing Efficiency Improvements section
What this means today
The UK grocery market is undergoing rapid and profound change. Channel shift from traditional full-service supermarkets to online continues to build momentum and online is forecast to be the fastest growing channel in UK grocery over the next five years, according to the Institute of Grocery Distribution (IGD), with similar trends being seen across the globe. The UK online sales value is forecast to increase from £10.4 billion in 2017 to £16 billion in 2022, a 54% increase worth £5.6 billion (IGD).
IGD expects the value of the world's grocery market to increase by $2.4 trillion between 2016 and 2021. Grocery retail internationally is in a period of significant change driven by the adoption of digital technologies. This offers us huge market opportunities on a global scale.
Ocado is a catalyst for channel shift and our Retail and Solutions businesses are both well placed to take advantage of the changes which channel shift brings.
More information on trends in the grocery industry can be found within the Marketplace section
What this means in the future
Innovation is part of our DNA and our continued investment and thought-leading research into disruptive capabilities such as artificial intelligence, robotics and the Internet of Things provide an opportunity to create a sustainable competitive advantage which will allow us to deliver long-term shareholder value.
Read more information on Innovation – Developing solutions for all our customers