The ‘Never Knowingly Undersold’ price pledge makes a comeback next week.
- Originally launched in 1925, it was discontinued in 2022.
- The pledge will now match prices with 25 retailers, including Amazon and M&S.
- Refund requests for price differences now have a seven-day window.
- John Lewis invests heavily in the largest marketing campaign tied to this revival.
John Lewis is reinstating its iconic ‘Never Knowingly Undersold’ price pledge next week, a historic initiative first introduced in 1925 and paused in 2022. This pledge is set to match thousands of product prices from a wide array of third-party brands across fashion, homeware, beauty, and technology sectors with those of 25 prominent retailers, including Marks & Spencer, Next, and Amazon.
This revival marks the first time the price-matching promise will extend beyond physical retail stores to include ecommerce platforms such as Asos and Amazon. Customers can now claim a refund of the price difference within a seven-day period if they find a lower price elsewhere. Previously, the window for such claims was 28 days, a change reflecting a modernised approach to retail competition.
Executive Director Peter Ruis has articulated this revival as part of repositioning John Lewis for modern retail experiences, integrating a robust marketing strategy. The company is committing substantial resources to this endeavour, which includes two-page advertisements in print magazines and a new television commercial, reflecting the largest marketing investment in its history. Ruis emphasised the pledge as a key differentiator for the company in the current retail landscape.
Ruis remarked, “We are reimagining ‘Never Knowingly Undersold’ for how consumers shop today.” He acknowledged that the previous price match system was outdated, conceived in a “pre-web, pre-omnichannel world.” His return to John Lewis in early 2024 has seen significant strategic shifts, with this pledge being positioned as a mechanism suited for future retail demands.
Concurrently, the company faces internal challenges, as recent reports suggested potential job cuts, claims which John Lewis has denied. Nevertheless, the financial outlook seems promising, with half-year results anticipated shortly. The previous year’s financial figures demonstrated a marked improvement, with a profit before tax increase of £120 million, reversing a substantial loss from the preceding year.
John Lewis’s strategic move to revive their promise reflects a significant adaptation to contemporary retail dynamics.
