Ocado Retail, a joint venture between Ocado Group and Marks & Spencer, has announced retail revenue growth of 35 per cent in its fourth quarter trading statement.

Ocado said that the growth reflects “strong demand for online grocery and the continuation of a smoothed trading week compared to the peaks and troughs that reflected normal shopping habits pre-COVID.”

Retail revenue increased to £579.6 million in the 13 weeks to 29 November 2020, compared to £429.7 million in the previous year.

Ocado is planning to open three new warehouses 2021 which will ultimately create 40 per cent more capacity and generate more slots for customer deliveries.

“We continue to make good progress bringing even greater choice, quality and value to our customers following the switchover to M&S at the beginning of September,” said Melanie Smith, Ocado Retail’s chief executive.

“At Ocado Retail we are constantly looking to raise the bar even further and the addition of M&S products to our grocery ranges has enhanced what was already the widest choice of products available online.

“Despite exceptional demand during the period, we have high rates of on-me customer delivery and low rates of substitutions.

Tim Steiner, chairman of Ocado Retail, said: “This has been an exceptionally difficult year for everyone in the country and indeed around the world..

He added: “I would like to pay tribute to all my colleagues who have played a part in making this happen, in particular our front-line staff and those working in our Customer Fulfilment Centres, who have worked restlessly to help feed the nation. I am incredibly proud of the agility the business has demonstrated through this challenging me. We enter the holiday period with confidence and look ahead to better times for all in 2021".

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