Ocado Group PLC

OCDO: XLON (GBR)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Ocado's Grocery Solutions Are Not Enough to Garner a Moat

Verushka Shetty

Nov 11, 2025

Business Strategy and Outlook

Ocado Group offers exposure to the international e-grocery market. It began as a pure-play e-grocer in the UK and was the first mover in end-to-end automated fulfillment in groceries. In 2015, Ocado saw the opportunity to monetize its fulfillment solutions and began selling the Ocado Smart Platform to other grocers. In 2019, Ocado sold 50% of its e-grocery business, Ocado Retail, to Marks & Spencer. Ocado operates under two segments: solutions, encompassing the Ocado Smart Platform, and logistics, which operates in the United Kingdom. Ocado is in the early stages of deploying its technology beyond the e-grocery vertical.

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Ocado Group PLC

Ocado's Grocery Solutions Are Not Enough to Garner a Moat

Business Strategy and Outlook

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