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.