The famous tagline means that John Lewis will compare the prices of branded products in other stores if customers find it cheaper elsewhere – but it doesn’t apply to online-only competitors
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John lewis is giving up on its famous “Never Sells” promise to shoppers after nearly 100 years.
The famous slogan means iconic retailer will match the price of branded products in other stores if the customer finds the product cheaper elsewhere.
But this policy does not apply to online-only competitors and John lewis says it no longer reflects how people shop.
John Lewis said it will invest £500m to reduce prices so customers don’t have to shop around.
This is 25% more than the cost of maintaining lower prices in 2021, says John Lewis.
The “Never Unknown Undersold” promise was made in 1925 when John Lewis had only two branches.
John Lewis CEO, Pippa Wicks, said: “Customers are tightening their belts and we’re working to make John Lewis more affordable for every customer, every day whether shopping in store or in store. or online.
“Never Knowly Undersold has been a sign of credibility for John Lewis for a century, but it doesn’t align with the way customers shop today as more and more purchases are made online.
“Our new £500 million investment means that all of our customers can count on them to get the quality, style and service they expect from John Lewis for a low price. reasonable price.”
After the street giant confirmed it was reneging on its promise, MoneySavingExpert founder Martin Lewis said it had become redundant anyway.
“The promise of never-knowing doesn’t sell has always been a psychological hoax to consumers, creating the false impression that John Lewis is cheap,” he said.
“In effect, it allows stores to charge what they like and knows that, for some price-sensitive shoppers – less than 1% last year – who bother to check prices in elsewhere after purchase, John Lewis will lower its price, but only relative to its street competitors.”
Martin said the people who won’t benefit from the promise of discounts are electronics shoppers.
“With these, ‘Never Knowly Undersold’ lets you find a bargain elsewhere, then buy at that price with John Lewis and get a two-year warranty on electrical items or five years on TELEVISION.
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“It won’t look at matching the prices of online-only retailers, though.”
The update from John Lewis comes after its sister business Waitrose announced that it would end its program offering free newspapers to loyalty cardholders.
The luxury supermarket claims only 5% of its members are using it.
This move comes as part of Waitrose Loyalty Program Vibrationwhich grocers say will give shoppers the potential to save more than 112%.
MyWaitrose will relaunch on February 23 and will offer customers more “personalized offers” based on their shopping habits.
Waitrose, part of the John Lewis Partnership, says loyalty members will get “more flexibility, tailored offers and money from their weekly store” with rewards split into two categories.
There will be both personalized offers and exclusive savings, with offers released weekly.
https://www.mirror.co.uk/money/john-lewis-axes-100-year-26331995 John Lewis banishes 100-year-old price-matching promise because shoppers 'didn't use it'