John Lewis retires Never Knowingly Undersold as it invests £500m in price

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John Lewis will remove its Never Knowingly Undersold pledge this summer as executive director Pippa Wicks says the promise “doesn’t fit with how customers shop today”.

Never Knowingly Undersold at John Lewis

John Lewis’s signature pledge has been in place for nearly a century

John Lewis said its pledge, which has existed for nearly a century, was “no longer enough to assure trust because it applies to fewer and fewer sales as shopping moves increasingly online, and isn’t applicable to online-only retailers”.

Instead, the retailer said its £500m investment in prices – up a quarter on last year’s price investment – would allow John Lewis to “proactively lead of great value, rather than reacting to other retailers’ price changes”.

John Lewis said it would be replacing Never Knowingly Undersold with a promise of everyday quality and value, building on the success of its Anyday value range launch last year.

The retailer said since its launch nine months ago, Anyday had attracted 2 million customers, a quarter of which were new to John Lewis, comprising £125m in sales.

It said it would continue to monitor competitors’ prices and offer two- and five-year guarantees for electricals and TVs respectively.

Executive director Pippa Wicks 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.”