John Lewis is reintroducing its historic ‘Never Knowingly Undersold’ pledge, promising price matching with 25 competitors.
- The pledge, originally established in 1925 and paused in 2022, formally resumes on September 9.
- This updated version includes price comparisons with both physical and online competitors, such as Amazon.
- Consumers will have seven days to claim a price difference refund, previously extended to 28 days.
- Peter Ruis, John Lewis’s executive director, emphasizes the pledge’s modernization for today’s retail environment.
The iconic British retailer John Lewis has announced the return of its ‘Never Knowingly Undersold’ price promise, a commitment that has been central to its brand identity since 1925. This pledge, set to be reinstated on September 9, aims to match prices on a wide range of products with 25 different retailers including prominent names such as Marks & Spencer and Amazon.
Historically, the policy was suspended in August 2022 as it was deemed outdated for the evolving retail landscape, particularly with the omnipresence of online shopping platforms. With its reintroduction, the policy now accommodates both online giants like Asos alongside traditional brick-and-mortar stores.
Notably, this updated iteration of the pledge reduces the time frame for customers to claim a refund of a price difference from 28 to seven days. This adjustment reflects a significant change in consumer behavior and expectations in the fast-paced modern retail environment.
According to Peter Ruis, executive director at John Lewis, this move represents a ‘reimagining’ of their famous slogan to align with today’s consumer shopping habits. He signifies the pledge as a testament to John Lewis’s unique position within the retail sector, underscoring the tailored customer experience they offer.
The department store has invested heavily in marketing the revamped promise, launching an extensive campaign that includes magazine spreads and a television commercial set to air on September 19. This initiative is part of a broader, substantial financial commitment that Ruis describes as the largest marketing endeavor in the company’s history.
In light of recent rumors regarding job cuts within the organization, John Lewis has firmly denied these claims, seeking to reassure stakeholders of its stable employment landscape. The company is poised to release its half-year financial results shortly, with previous data showing a strong recovery from prior losses.
John Lewis’s reintroduction of its ‘Never Knowingly Undersold’ pledge marks a significant strategic move to enhance its competitive edge in the retail market.
