John Lewis & Partners is poised to scrap its longstanding ‘Never knowingly undersold’ price promise
Sofie Willmott, Head of Apparel at GlobalData, a leading data and analytics company, offers her view on this news:
“John Lewis & Partners’ price promise has been a key part of its USP in the past, reassuring shoppers that it will offer the best value on branded items, alongside often generous guarantees coupled with excellent customer service. However, Chairman Sharon White is wise to adapt and evolve the retailer’s proposition as the heavily promotional trading environment shows no signs of waning and the price promise is costing John Lewis & Partners its profits.
“Joining the partnership six months ago amidst tough times in retail and for department store players in particular, Dame Sharon White has had more to deal with than she could have imagined but she has proved she is willing to make drastic changes and steer the retailer in a new direction in order to survive. Unlike its department store competitors Debenhams and House of Fraser which continue to look lost and forlorn, hoping their customers will one day return, the John Lewis Partnership is taking steps to adjust to changing consumer shopping habits to try to safeguard its future.”
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