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John Lewis to drop Never Knowingly Undersold pledge after £500m investment

// John Lewis retiring Never Knowingly Undersold pledge
// The department store has invested £500m into the business

John Lewis has said it is retiring its Never Knowingly Undersold pledge after investing £500 million to offer “great value prices”.

The investment comes as the department store learns that customers have changed how they shop.

The Never Knowingly Undersold pledge is set to be retired this summer.

READ MORE: Calls to force retailers to seek ethical agenda “go too far”, says John Lewis boss

John Lewis said Never Knowingly Undersold is no longer enough to assure trust because it applies to fewer sales as shopping moves increasingly online, and isn’t applicable to online-only retailers.

The retailer is replacing it with a new approach as the £500 million investment in value is 25% higher than the amount it spent on keeping prices affordable last year.

“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,” John Lewis Executive Director, Pippa Wicks said.

“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 £500 million investment means all our customers can trust they’re getting the quality, style and service they expect from John Lewis at great value prices.”

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The post John Lewis to drop Never Knowingly Undersold pledge after £500m investment appeared first on Retail Gazette.



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