What: The UK retailer John Lewis is reinstating its century-old "Never Knowingly Undersold" price pledge.

Why it is important: This move is significant as it underscores John Lewis's commitment to competitive pricing, aiming to strengthen customer trust and loyalty by ensuring price matching with major competitors.

John Lewis is bringing back its historic "Never Knowingly Undersold" price pledge, which guarantees that the retailer will match prices with major competitors. This decision reflects a strategic effort to reinforce its market position and appeal to cost-conscious consumers by ensuring competitive pricing. The reinstatement of this pledge is part of John Lewis's broader strategy to enhance its value proposition and maintain its reputation as a trusted retailer.

Reviving the 100-year-old price pledge: John Lewis's strategic move