Online grocer Ocado is launching an own label "credit crunch-busting" line of groceries.

The retailer's Everyday range offers "shopping basket staples" at lower prices than Waitrose own-label equivalents, the company said today (8 December), offering more options to cash-strapped consumers.
The initial 21-item offering includes many of Ocado's 'highest volume' items including meat cuts, ready meals and dairy products.
Ocado currently provides shoppers with Waitrose-labelled goods and UK brands. The new range groups together products from suppliers such as Dovecote, Moy Park and St Ivel.
"In March we were quick to spot the early signs of recession introducing Tesco Price Match on branded goods to give increasingly cost-conscious shoppers improved value," said Jason Gissing, co-founder of Ocado. "Our new Everyday range improves that value further still, providing customers with greater choice and control when shopping with us. It's all about making the online shopping experience even more varied and convenient."

Ocado said it will further extended its range into fresh fruit and vegetables in the New Year.