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As memorable retail slogans go, “Never Knowingly Undersold” is up there with the likes of Marks & Spencer’s “Anything but Ordinary” and Tesco’s “Every
John Lewis is pledging a £500m investment to give the retailer quality at value prices as shoppers become more cost conscious.
The promise was introduced nearly 100 years ago when there were only two branches of the retailer.
The retailer says it will abandon the promise in the summer and instead spend £500m to keep prices down.
The current “Never Knowingly Undersold” price match guarantee forces John Lewis to refund the difference in price if customers find a product they have