John Lewis Revives Iconic "Never Knowingly Undersold" Promise to Reconnect with Customers
John Lewis has brought back its renowned “Never Knowingly Undersold” price promise, marking a return to a policy that had been scrapped in 2022. This comes as part of a broader strategy to regain customer trust, particularly in the competitive retail landscape leading up to the crucial Christmas season. The return of this slogan signals a major marketing push, with a focus on using cutting-edge technology and improving overall value.
The iconic promise, which was first introduced nearly a century ago, guarantees customers the best price. If a customer finds a product sold cheaper by one of John Lewis's 25 competitors, including Marks & Spencer, Boots, and Amazon, within seven days of purchase, John Lewis will refund the difference. This new iteration of the policy will leverage AI to adjust prices daily, helping the retailer stay in sync with the ever-evolving digital marketplace.
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Peter Ruis, the head of John Lewis, emphasized that this revival isn’t just about lowering prices, but about ensuring customers feel confident they are getting fair and competitive deals. Since the policy's removal, there had been a perception that John Lewis's prices had increased, which led to concerns that the retailer was losing its competitive edge. This misperception, Ruis explained, prompted the decision to relaunch the price promise.
Ruis also highlighted the retailer’s significant investment in technology to support the price-matching system, which will be applied both online and in-store. In addition to this, John Lewis will be backing the campaign with a high-profile marketing effort, including TV commercials and revamped advertising to reinforce its commitment to quality, service, and fair pricing.
While some questioned whether scrapping the policy in 2022 was a mistake, the return of the promise shows the retailer's intent to adapt and modernize its strategy. By balancing tradition with innovation, John Lewis is striving to retain its loyal customer base while also attracting new shoppers in an increasingly digital retail environment.
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