Ocado will expand its exclusive range of Ocado Everyday products, launched at the end of last year to provide more value in its bottom tier, in a move that provides further distance from the Waitrose range it currently stocks.
In addition to the Essential Waitrose range of value products comprising 1,400 skus by the end of this month the 62 products in the Everyday range, would more than treble to 400 products by the end of the year, said Gissing, before doubling again in 2010. The products would cover every category, he added.
"Our customers tell us what they want to buy and we also look at all search terms that result in no purchases so we can see there are certain products in certain categories where consumers are looking for a more affordable option," he said. "We will create a product to fill those spaces."
Ocado will, however, adopt the same three-tier product structure as Waitrose, stocking the full and expanded range of Duchy Originals products following the announcement by Waitrose last week that it will license the Prince of Wales' brand and use it as its premium range.
The online retailer, meanwhile, made a step close to a possible flotation on the stock exchange with the appointment of a new finance director this week.
Investment banker Andrew Bracey joins from Jefferies International after acting as an adviser to Ocado for several years. He also helped put together the consortium that bought Somerfield in 2005.
The move meant Gissing would be freed up to concentrate on marketing and developing the company's culture, he said.
"We don't have to list our company, but I would like it to happen," Gissing said. "We have hired someone to manage the process. This time next year I could be marketing director of a listed company."
Ocado is due to file accounts at Companies House in two weeks' time. Gissing said the company would again fail to make a profit something he attributed to heavy investment in the business.
In addition to the Essential Waitrose range of value products comprising 1,400 skus by the end of this month the 62 products in the Everyday range, would more than treble to 400 products by the end of the year, said Gissing, before doubling again in 2010. The products would cover every category, he added.
"Our customers tell us what they want to buy and we also look at all search terms that result in no purchases so we can see there are certain products in certain categories where consumers are looking for a more affordable option," he said. "We will create a product to fill those spaces."
Ocado will, however, adopt the same three-tier product structure as Waitrose, stocking the full and expanded range of Duchy Originals products following the announcement by Waitrose last week that it will license the Prince of Wales' brand and use it as its premium range.
The online retailer, meanwhile, made a step close to a possible flotation on the stock exchange with the appointment of a new finance director this week.
Investment banker Andrew Bracey joins from Jefferies International after acting as an adviser to Ocado for several years. He also helped put together the consortium that bought Somerfield in 2005.
The move meant Gissing would be freed up to concentrate on marketing and developing the company's culture, he said.
"We don't have to list our company, but I would like it to happen," Gissing said. "We have hired someone to manage the process. This time next year I could be marketing director of a listed company."
Ocado is due to file accounts at Companies House in two weeks' time. Gissing said the company would again fail to make a profit something he attributed to heavy investment in the business.
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