---
title: "John Lewis Revives Never Knowingly Undersold Pledge in Bold Retail Strategy"
publisher: "Stockmark.IT"
author: "Stockmark.IT Website"
published: "2024-09-05T17:24:54+00:00"
modified: "2024-09-05T17:24:54+00:00"
date: 2024-09-05
canonical: "https://stockmark.it/john-lewis-revives-never-knowingly-undersold-pledge-in-bold-retail-strategy/"
category: "Business"
categories: ["Business", "Retail"]
image: "https://i0.wp.com/stockmark.it/wp-content/uploads/2022/12/joules-sm-1.jpg?fit=480%2C270&quality=89&ssl=1"
format: "news"
language: "en-GB"
---

# John Lewis Revives Never Knowingly Undersold Pledge in Bold Retail Strategy

**Published:** September 5, 2024
**Author:** Stockmark.IT Website
**Categories:** Business, Retail
**Featured image:** ![Black and white photo of a dimly lit shopfront window displaying mannequins dressed in various outfits, seen from outside at night through large glass panes. @ stockmark.it](https://i0.wp.com/stockmark.it/wp-content/uploads/2022/12/joules-sm-1.jpg?fit=480%2C270&quality=89&ssl=1)

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In a significant shift for the British retail landscape, John Lewis has announced the reinstatement of its iconic “never knowingly undersold” price-match pledge. This move comes two years after the department store chain abandoned the century-old promise, signalling a renewed focus on customer value and competitive pricing. Peter Ruis, John Lewis’s executive director, has spearheaded this strategic U-turn, which will see the retailer matching prices with 25 competitors, including industry giants Amazon, Next, and Marks & Spencer.

The revamped scheme, set to launch on Monday, will cover both in-store and online purchases across John Lewis’s 34 locations. This decision follows a period of financial turbulence for the John Lewis Partnership, which has grappled with declining sales and market share erosion during recent economic challenges. The reintroduction of the price-match guarantee is aimed at rebuilding customer trust and reinforcing the retailer’s commitment to value.

Under the new system, shoppers will be eligible for a refund if they find an item at a lower price from a specified list of competitors within seven days of purchase. This modernised approach leverages artificial intelligence technology to track thousands of products online, addressing previous limitations in implementing the policy effectively.

The revival of this cornerstone policy has been met with enthusiasm from both customers and employees. In recent tests, 63% of surveyed customers indicated they would be more likely to shop with John Lewis as a result of the reinstated pledge. As the retail sector continues to evolve, John Lewis’s bold move represents a significant investment in its core business model. With incoming chairman Jason Tarry expressing strong support for the initiative, the retailer appears poised to reclaim its position as a leader in customer-centric retailing.

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