AO.com’s chief executive said the coronavirus pandemic has seen “five years accelerate into only five weeks” in terms of online shopping behavior.
Ecommerce across the UK has developed at a highly accelerated rate as many sectors became 100 per cent online overnight, AO.com’s founder and chief executive John Roberts said during a trading update today.
The electricals retailer said it plans to “cement that change” moving forward, while adding that it also expects to meet analyst expectations for its last financial year.
In the 12 months to March 31, AO.com said it had made progress in meeting its four key strategic ambitions which include returning to profitability and being cash generative.
Since the lockdown began, the retailer said it has “grown market share and seen increased demand and sales across all categories” despite a decline in the wider electricals sector.
Its full year preliminary results are now due to be published on July 14, while its annual general meeting will be held on August 20.
“I want to thank the amazing team of AOers for their dedication, sacrifice and professionalism through the very recent period in particular but also throughout the last 12 months,” Roberts added.
“They have delivered in spades against the key priorities we set and we entered our new financial year in good shape.
“Our team in Germany has embraced our One AO approach and is benefiting on all key metrics as a result. We are more certain than ever of the potential of that business and the platform it provides for growth.”