In the three months to 28 August, Ocado served record numbers of new customers, with its active customer numbers rising by 23% year-on-year to 946,000.
The company’s average orders per week (OPW) increased by 10.7% to 374,000 from 338,000 in Q3 2021.
Ocado’s average basket dropped by 6% to £116 during the quarter, with a greater decline experienced later in the period during the peak summer holiday season.
Having opened four customer fulfilment centres since the beginning of last year, Ocado expects its total OPW capacity to be around 600,000.
For the fourth quarter (Q4) of FY22, the company expects a mid-single digit sales growth.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
Due to an acceleration in trading down and smaller baskets, especially over the last few weeks, Ocado expects a slight decline in sales for the full year.
Ocado Retail chairman Tim Steiner said: “As we have seen in Q3, customer numbers are sharply up as consumers either switch from other providers or try online grocery for the first time; underlying productivity in fulfilment and the last mile continues to improve; and the new CEO of Ocado Retail, Hannah Gibson, brings fresh vision and energy to the business.
“As consumer spending stabilises, we expect Ocado Retail will again deliver attractive and accelerating growth in sales and a strong recovery in profitability.
“For all these reasons, we are optimistic for the future even while recognising the challenges that higher energy bills and other inflationary pressures are creating for our customers today.”
In June this year, Ocado revealed plans to raise £575m through a share placing to fuel its expansion.