What: John Lewis is not finished with its necessary upgrade which will allow to reconnect with profits. Apart from side projects (housing) it is also taking significant, down-to-earth steps, such as introducing BNPL as a payment option.

Why it is important: One may wonder if such an introduction does not come too late as the big wave is behind us and both customers and governments are already starting to question the consequences brought by the BNPL options.

The John Lewis Partnership is considering implementing a buy-now-pay-later system, inspired by Klarna, to cater to younger consumers' expectations. This move aligns with the rising popularity of such payment methods, particularly among young women.

The retailer's ongoing recovery plan, aimed at cost reduction, improved customer service, and diversification into sectors like private rented housing, was discussed by CEO Nish Kankiwala.

The plan, focused on customer-centricity, cost efficiency, and enhanced technology, seeks to achieve £200 million in profit within two years and £400 million by 2025. A previous loss of £234 million, driven by inflation, was reported in March.

John Lewis introduces Buy Now Pay Later schemes