John Lewis brings back price promise [Yahoo! Finance]
MARKS & SPENCER GRP S/ADR (MAKSY)
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Source: Yahoo! Finance
“John Lewis has been in an identity crisis since it culled its NKU price promise over two years ago. “Its shift in focus to ‘everyday value and quality' was not enough to contend with its closest competitors across home, electricals, apparel and beauty. “This updated initiative will reassure its existing customers on price and make some headway in enticing back lapsed shoppers that had turned to its competitors.” John Lewis paused its price promise two years ago, after it claimed customers reported finding the offer too complicated and the exclusion of online retailers did not reflect how they were shopping. The retailer surveyed 5,000 customers with three-quarters sharing that an updated version of the ‘never knowingly undersold' offer would improve the sense of value for money at John Lewis. Using AI technology to track the prices at competitors, John Lewis will check prices at 25 high street and online competitors to match any lower prices. Retailers included in John Lew
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