John Lewis is investing £500m into a new value offering to reflect how customers have changed the way they shop.
The brand’s famous Never Knowingly Undersold slogan – which has “given customers reassurance” for nearly a century – will be retired in the summer and the company’s new approach is to provide every customer with Quality & Value every day – this is the replacement slogan and brand promise.
John Lewis said as a result of shopping moving increasingly online, the Quality & Value approach applies to however and wherever people shop, whether it’s in store or online.
Customers will benefit from great prices everyday – without having to shop around, the retailer said. “We will more proactively lead on great value, rather than reacting to other retailers’ price changes.
“Shoppers can be reassured that we’ll continue to monitor other retailers’ prices especially on products that matter most to them – from microwaves and mattresses, to TVs to toys – regardless of whether they’re buying online or in store.
This move comes after the launch of the John Lewis ANYDAY brand – its own-brand, more affordable range covering technology and homeware as well as fashion and nursery. ANYDAY prices are, on average, 20 per cent lower than JL’s other own brand ranges.
The retail giant was reassuring that additional product benefits will still apply under the Quality & Value scheme, such as the standard two-year guarantees on electricals and five-year guarantees on TVs.
Pippa Wicks, Executive Director of John Lewis, said: “Customers are tightening their belts and we’re responding so John Lewis is more affordable for every customer, every day whether shopping in-store or online.
“Never Knowingly Undersold has been a cherished sign of trust for John Lewis for a century but it doesn’t fit with how customers shop today as more purchases are made online. Our new £500m investment means all our customers can trust they’re getting the quality, style and service they expect from John Lewis at great value prices.”