Advertisement
UK markets close in 4 hours 43 minutes

  • FTSE 100

    7,829.02
    -48.03 (-0.61%)
     

  • FTSE 250

    19,281.66
    -169.01 (-0.87%)
     

  • AIM

    741.06
    -4.23 (-0.57%)
     

  • GBP/EUR

    1.1675
    -0.0008 (-0.07%)
     

  • GBP/USD

    1.2438
    0.0000 (-0.00%)
     

  • Bitcoin GBP

    51,909.29
    +2,338.19 (+4.72%)
     

  • CMC Crypto 200

    1,333.09
    +20.47 (+1.59%)
     

  • S&P 500

    5,011.12
    -11.09 (-0.22%)
     

  • DOW

    37,775.38
    +22.07 (+0.06%)
     

  • CRUDE OIL

    82.24
    -0.49 (-0.59%)
     

  • GOLD FUTURES

    2,395.80
    -2.20 (-0.09%)
     

  • NIKKEI 225

    37,068.35
    -1,011.35 (-2.66%)
     

  • HANG SENG

    16,224.14
    -161.73 (-0.99%)
     

  • DAX

    17,718.07
    -119.33 (-0.67%)
     

  • CAC 40

    7,995.96
    -27.30 (-0.34%)
     
Property:

11 beautiful homes with glorious garden rooms

Investing in a home with a garden room will enable you to enjoy your outside space whatever the weather

Online's share of UK grocery market will double again in a few years - Ocado CEO

Reuters
·1-min read
FILE PHOTO: General view of a message on a traffic information sign

LONDON (Reuters) - Online penetration of Britain's grocery market will double again in the next few years, the boss of online supermarket Ocado <OCDO.L> forecast on Tuesday.

Industry data shows penetration has almost doubled in recent months to 13% from 7% before the COVID-19 pandemic hit.

"We strongly believe that demand will continue to grow. I think we'll see another doubling of the (online grocery) market in the next few years," Ocado Chief Executive Tim Steiner told reporters after the firm published first half results.

He said once levels of 20-30% were reached the economics of stores would be challenged. "You'll then see a continued channel shift to significantly greater market share and ultimately to be the mainstream market share."

(Reporting by James Davey; Editing by Alistair Smout)