UK retailer Asda has announced that it achieved “record online grocery sales” in 2023, ending the year with its “highest ever” online grocery market share of 20.8%.
It said it delivered 39 million orders with a sales value of £3.2 billion. The online grocery market share was 2% ahead of the third-ranked supermarket, with Asda calling it its “strongest market share performance since June 2020”.
Online now reportedly accounts for 18% of Asda’s total grocery sales – an increase of 8% since 2020. Asda said this “strong” online performance was driven by “continued investment in price, quality and innovation.
For the financial year ending December 2023, Asda said it had delivered a 24% in adjusted earning before interest taxes depreciation and amortisation (EBITDA) after rent to £1.078 billion driven by 5.4% like-for-like sales growth.
The supermarket achieved a pre-tax profit of £180 million in FY23, compared with a loss before tax of £432 million in 2022. Total sales (excluding fuel) increased by 7.1% to £21.9 billion in FY23.
Michael Gleeson, chief financial officer at Asda, said: “We are investing to build a bigger and better Asda bringing our heritage in value to more customers across the UK. Our priority remains growing the Asda business for the long-term through diversifying our offering to ensure customers can shop with us when and how it best suits them.
“Our online business is a key part of our omnichannel offering and it is pleasing to see the investments made in price, service and to expand our digital footprint continue to resonate with customers and drive sales.”
