John Lewis to cut prices on reopening
In a tough week announcing more store closures and poor trading figures, John Lewis Partnership was at least able to deliver some positive news for consumers.
In a bid to boost footfall — and much needed revenues — the department store retailer announced plans to lower prices across its range ahead of reopening in England on 12 April.
The campaign will be headlined: ‘John Lewis quality at prices you wouldn't expect’.
Pippa Wicks, boss of the department store arm, confirmed the retailer is preparing for the end of lockdown by cutting prices on a mountain of unsold stock, but insisted this will not harm its upmarket image.
She said: “When we open up from lockdown you will see in our stores lots of new entry price points, lots of other products repriced at different levels. Let me assure you we will not be Argos for the middle classes”.
Partnership chair Sharon White said John Lewis had assessed its pricing structure and readjusted its entry price points.
“We're really going to be dialling up our focus on value with new pricing later this year – we want customers to think, ‘Gosh this is John Lewis quality, but at prices that you wouldn't expect’”, she said.
The retailer will be acutely aware of having to balance the need to cut prices without damaging its long-standing reputation with customers.
Last year, John Lewis was ranked top of YouGov’s Best Brand Rankings, which measures overall brand health based on impression, quality, value, satisfaction, recommend and reputation.
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