John Lewis is one of the most well-known and respected department stores in the United Kingdom. Founded in 1864, the company has grown into a retail giant, offering products across multiple categories, including fashion, homeware, electronics, beauty, and furniture. With a strong focus on customer trust and quality, John Lewis built a reputation that set it apart from competitors.
A significant component of John Lewis’s identity was its long-standing pricing promise: “Never Knowingly Undersold” (NKU). Introduced in 1925, NKU assured customers that John Lewis would match any lower price found at a competing high street retailer. However, as the retail industry evolved—particularly with the rise of e-commerce—maintaining this pledge became increasingly difficult. In 2022, the company made the difficult decision to discontinue NKU, citing the challenges of keeping up with dynamic online pricing models and the changing competitive landscape.
Despite stepping away from NKU, John Lewis recognized the need to maintain a strong pricing strategy to preserve its reputation and customer loyalty. In 2024, under the leadership of new management, the company sought to bring back the essence of NKU in a modernized form. The reintroduction of this policy is part of a broader strategy under the leadership of executive Peter Ruis to enhance customer trust and align with contemporary retail dynamics. Implementing this policy required a more sophisticated approach to pricing — one that could dynamically adjust to market changes while ensuring John Lewis remained the most competitive across all key product categories.
