John Lewis brings again ‘by no means knowingly undersold’ worth pledge | EUROtoday

Retailer John Lewis is bringing again its “never knowingly undersold” worth pledge from Monday, two years after abandoning it.

It may even apply to on-line gross sales for the primary time, whereas it beforehand solely utilized to in-store procuring, and can use AI to match the costs of 25 prime retailers.

The division retailer chain has been making an attempt to win again clients after a troublesome few years that has seen it lower jobs and shut a number of shops.

It swung again to revenue earlier this yr, however is predicted to proceed shedding jobs because it seeks to revive its fortunes.

The resolution by John Lewis’ new managing director Pete Ruis to revive the worth pledge marks a change of route from his predecessor.

“When we removed the price promise, people automatically assumed that all prices went up… that wasn’t necessarily the case,” stated Mr Ruis.

Mr Ruis stated the pledge had not been “fit for purpose” in 2022, with employees counting on pencils and spreadsheet to maintain monitor of rivals’ costs.

The new coverage will solely apply to branded merchandise, with software program monitoring costs from rivals, together with Marks & Spencer and House of Fraser.

Mr Ruis didn’t say how a lot the reintroduction would value the retailer.