John Lewis retires Never Knowingly Undersold pledge
The John Lewis department store chain is retiring its Never Knowingly Undersold pledge and replacing it with Quality & Value.
The price match promise has sought to give customers reassurance on price for nearly a century. However, the retailer said the number of prices matches is getting ever lower due to the rise in online sales and the fact that the pledge does not apply to online-only rivals.
Instead, John Lewis is committing a £500 million investment to give customers “quality at great value prices” as shoppers become more cost conscious this year. This will involve “proactively leading on great value”, rather than reacting to other retailers’ price changes.
Pippa Wicks, executive director of John Lewis, said: “Customers are tightening their belts and we’re responding so John Lewis is more affordable for every customer, every day whether shopping in-store or online.
“Never Knowingly Undersold has been a cherished sign of trust for John Lewis for a century but it doesn’t fit with how customers shop today as more purchases are made online. Our new £500 million investment means all our customers can trust they’re getting the quality, style and service they expect from John Lewis at great value prices.”
John Lewis said it will continue to monitor other retailers’ prices especially on products that matter most to customers such as mattresses, microwaves, TVs to toys. It will also offer a broad range of products at different price points for every budget. In addition, it will be keeping its standard two-year guarantees on electricals and five-year guarantees on TVs.
The retailer said its ANYDAY own-brand value that was introduced in 2021 has become its most successful brand launch to date with over two million customers shopping the range in just nine months.
