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Japan's Aeon signs up Ocado in online grocery bet

Credit: Reuters Studio
Published on November 29, 2019 - Duration: 01:06s

Japan's Aeon signs up Ocado in online grocery bet

Japan's biggest supermarket group, Aeon, has hired British online grocery pioneer Ocado to develop its e-commerce business, hoping to fend off rivals such as Amazon as more customers buy groceries online.

Ciara Lee reports

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Japan's Aeon signs up Ocado in online grocery bet

Japan's biggest supermarket group has hired British online grocery pioneer Ocado to develop its e-commerce business As more customers turn to buying groceries online, Aeon is hoping to fend off rivals such as Amazon.

Ocado shares leapt as much as 15% in Friday (November 29) trade Investors welcomed the latest partnership for the British company whose technology deals have become more important than its original business of selling food online.

Internet grocery shopping has yet to take off in Japan, where consumers still buy fresh produce on a daily basis.

But growing numbers of working women and improved technology and logistics networks are expected to change that.

Aeon's rival Seiyu, operated by U.S. retail giant Walmart, launched an online grocery venture with e-commerce firm Rakuten in 2018.

Aeon, which has about 100 million customers, also plans to harness Ocado's robotic warehouses The partnership anticipates Aeon will have an online grocery sales capacity of around $5.5 billion by 2030.

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