OCADO will update investors on its fourth quarter trading on Tuesday, to see if a barrage of price cuts has managed to win over more customers amid the cost of living crisis.

Ocado, which owns an online grocery venture with Marks and Spencer, enjoyed big wins during the pandemic but has struggled to keep up momentum since.

As a result, most of its gains are likely to come from its robotics arm which reported a 35 per cent surge in growth during the half year.

Its retail division has managed to drag some customers back in recent months, reporting a 7.2 per cent leap in revenues back in September.

Ocado began slashing prices on its groceries to compete with rivals and appeal to cash-strapped Brits.

In January, it announced it would add more than 1,700 products to its 'Big Price Drop' campaign.

While this campaign has managed to claw back customers, Marks and Spencer chief Stuart Machin has said that Ocado will not reach its full potential for another three years.

(c) 2024 City A.M., source Newspaper