John Lewis has told shoppers it will bring back back a previous promise as the retailer gets ready to change 30,000 prices.
Bosses at the online retailer and high street department store have confirmed they will be bringing back its ‘never knowingly undersold’ price pledge – two years after ditching the commitment.
It will return from September 9 and will see John Lewis use AI technology to match 25 major competitors on its prices in-store and online.
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Those brands include AO.com; Amazon (on technology); Apple; Argos; Asos; Boots; Currys; Dunelm; Dreams; The Entertainer; Fenwick; Flannels; Furniture Village; Harrods; Harvey Nichols; Heal’s; House of Fraser; Lakeland; M&S; Mama’s and Papa’s; Next; Richer Sounds; Selfridges; Smyths Toys and Space NK.
Around 30,000 prices will change next week as a result of the move.
Peter Ruis, who was appointed boss of the retail business in January, said he looked at resuming the pledge a month into his role as part of a desire to “sharpen” the firm’s pricing. He said: “Customers have recognised our quality but there were questions over whether our value offer has been sharp enough in some areas,” he said.
“The pricing mechanism we had before wasn’t fit for purpose so changing that has absolutely been the right thing.
“What we are doing now, and what the technology is enabling us to do, is really different, and customers will see the benefit of that.”
It comes amid a significant leadership shift at the business, with former Tesco UK and Ireland boss Jason Tarry set to take over a chairman of parent group, The John Lewis Partnership, early next year.
Current chairwoman Dame Sharon White said: “Now is the right time for ‘never knowingly undersold’ to return in a form that will resonate with customers whether they’re shopping in store or online.
“I’m delighted that Peter and his team are reinvigorating the John Lewis promise to our customers for the 21st century and I am excited to see the brand go from strength to strength, today as chairwoman and in future as a customer.”