John Lewis has experienced a remarkable response to the reinstatement of its ‘Never Knowingly Undersold’ pledge.
- The price match policy was reinstated after a two-year hiatus, significantly boosting website traffic.
- AI technology is now utilised to ensure competitive pricing across major retailers.
- This revival precedes the launch of a joint loyalty initiative with Waitrose.
- The loyalty scheme aims to offer integrated benefits to customers across both brands.
John Lewis has seen an exceptional reaction following the return of its renowned price match promise, ‘Never Knowingly Undersold’. New CEO, Peter Ruis, confirmed that the policy’s comeback has driven substantial traffic and sales. Since its revival, the website has attracted an additional 55,000 organic visits daily, reflecting the strategy’s impact across various product ranges, including unexpected sectors like own-brand bedding and nursery items.
The decision to bring back the pledge comes after a two-year suspension during which the company’s approach was deemed outdated. Previously, staff struggled with manual methods to track competitors’ prices, a situation Ruis described as “not fit for purpose.” With the aid of AI technology, John Lewis can now match prices in real time against 25 prominent retailers, including M&S, Next, and Boots. Ruis highlighted this advancement as a way to sharpen their existing competitive pricing strategy.
This price match initiative marks the lead-up to an ambitious joint loyalty programme with Waitrose. Set to roll out soon, this programme will enable consumers to access offers across both entities. Nish Kankiwala, the CEO of John Lewis Partnership, has assured customers that integrated offers for My John Lewis and My Waitrose members will be accessible both online and via apps. This scheme signifies just the beginning of several strategic steps aimed at unifying the brands’ customer experiences.
The loyalty programme, long anticipated following the recruitment of a former Tesco executive to spearhead its development, promises to enhance customer engagement across the partnership. Strategic efforts such as this highlight the company’s commitment to improving customer experience through technological integration and market adaptation.
John Lewis’s strategic revival of its price match promise and upcoming joint loyalty programme underscore its dedication to customer-centric innovation.
