I’ve held Ocado for a little while now - my 2c is that although the UK retail part of their business will always be tricky to dominate - their biggest strength for me is their technology roll out for other retailers overseas - their Kroger deal in the US for example is working really well and expanding. So I feel personally their warehouse platform is being honed in a very competitive market (UK) but their biggest advantage is distributing that to partners in new markets where they are the infrastructure provider. It’s worth looking into that side of the business too if you are looking at Ocado as an investment.
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