Reviving its famous ‘Never Knowingly Undersold’ promise, John Lewis aims to restore customer trust and edge in the market.
- The initiative marks Peter Ruis’s first significant move as John Lewis’s new leader.
- Advanced AI technology will enable real-time pricing, enhancing the customer experience.
- A substantial marketing campaign and store upgrades accompany the promise’s return.
- The retailer’s efforts focus on restoring its unique brand identity amidst competitive challenges.
John Lewis is reinvigorating its retail strategy by reintroducing the renowned ‘Never Knowingly Undersold’ promise, a move seen as a key step in reclaiming its market position. This bold initiative, marking the first major decision by Peter Ruis since his appointment, is intended to bolster customer loyalty and highlight the retailer’s core values of quality, service, and competitive pricing. Ruis articulates this strategic pivot as a blend of tradition and innovation, aiming to enhance the pledge’s original principles through modern advancements.
Utilizing cutting-edge AI technology, John Lewis plans to dynamically match prices with 25 major competitors, including online entities for the first time. Recognizing the previous system’s limitations that relied on manual checks and outdated methods, the updated approach promises precision and adaptability. This tech-driven solution addresses past issues of customer perception regarding price hikes and strives to clarify the pledge’s mechanism, aiming to reshape consumer views positively.
In tandem with this relaunch, John Lewis is implementing an extensive marketing campaign and significant store enhancements. Over 650 stores are set for improvements, illustrating the retailer’s commitment to elevating the consumer experience. The marketing push, the largest in the company’s history, includes prominent media placements and emphasizes the brand’s storied history and future aspirations.
Ruis emphasizes that the return of this pledge is not merely a pricing strategy, but a comprehensive reassertion of the brand’s identity. With a £542 million investment earmarked for strengthening its John Lewis and Waitrose offerings, the company is dedicated to integrating technology to streamline operations and improve service delivery. This multifaceted effort also involves revamping store layouts and introducing new product categories, reinforcing John Lewis’s market position.
Further, the relaunch aligns with the centenary of the original pledge, adding historical significance to the initiative. Alongside the price promise, John Lewis is expanding its digital capabilities, introducing real-time store technology and an innovative direct-to-consumer platform. This approach is designed to enhance accessibility and choice for customers, underscoring a commitment to future-ready retail practices while honoring time-tested principles.
John Lewis’s strategic revival of its iconic price promise combines technological innovation with heritage, aiming to solidify its presence in a competitive retail landscape.
