A Golden Revival: The Return Of ‘Never Knowingly Undersold’

It was in 1925, in a very different pre-Blitz, pre-New Wave, pre-Britpop London that John Lewis’ iconic price match promise ‘Never Knowingly Undersold’ was first introduced – and fittingly it was delivered in the flagship Peter Jones store in Sloane Square.

Although the building remains, and its charm and proud customer service persists, in other ways, it has transformed entirely. Clearly, back then no-one had conceived of click-and-collect or online shopping, and they certainly hadn’t heard of an air fryer.

But the rise of online retail in the face of declining high street footfall meant price matching (a task that was once done with pen and paper) became increasingly difficult and confusing for partners and customers alike. So, it was no surprise when it was scrapped in 2022.  

Seeking a return to its founding values, the retailer chose to mark entering the new year of 2025 by bringing back the long-held promise 100 years from its initial reveal. “It gave us something to feel proud about, something to share with customers and close the day with. Partners felt it brought back a sense of ownership in delivering trust and reassurance,” brand director Rosie Hanley says, speaking with Saatchi & Saatchi’s chief strategy officer Richard Huntington at Advertising Week Europe 2025.

Saatchi & Saatchi, John Lewis's agency of record, brought on board in May 2023, was behind the three-part campaign. Formed around the idea of “knowingness" and starting with a look through the window of the famous Oxford Street store, the campaign explored the deep connection John Lewis has fostered with customers over a century.

And John Lewis's results of late show how crucial efforts to reinstate trust have been – most importantly the retailer is heading back towards profit growth after a difficult few years.

A relaunch done knowingly

Prior to the relaunch, Hanley explains that the team had carried out research which demonstrated that 75 per cent stated the promises return would boost perceptions of value for money. And for Hanley, this is exactly the premise upon which the campaign was built: “It was all about how customers know what they need. They live a life with intent. They make informed choices. That’s knowingness,” explains Hanley.

While it helped improve key metrics such as customer satisfaction (CSAT) and net promoter score which indicates loyalty (NPS) – Hanley says both are up by seven points –  the main aim has been to help reinforce John Lewis’s status on the cultural map: “The Golden Quarter is a pivotal time for us – it’s not just about sales, but about reaffirming our connection with customers during the most meaningful season of the year. It’s when trust, loyalty, and our values truly come to life,” she adds.

Fittingly, the final leg was the annually anticipated Christmas campaign from the brand, which was centred around the idea of gifting: “Everybody needs to buy Christmas presents and we wanted to build that crescendo of the Christmas ad. We deliberately toyed with a three-part series. We wanted to drop new content that kept things interesting and fresh,” Hanley adds.

She highlights that another reason for the timing was the fact that John Lewis has developed AI technology with the capability to monitor and compare prices across 25 major retailers, both online and in-store ­including big names like Amazon. “It means we can deliver on our promise in a way that’s both efficient and relevant to how customers shop today,” she explains.

Following Saatchi & Saatchi's approach of spotlighting the retailer's rich history, delivering the success of this campaign, alongside John Lewis’s adoption of modern tools to bring back the price-match, a new legacy can be envisioned for many more decades to come.

Three lessons from bringing back ‘Never Knowingly Undersold’

• The power of balancing heritage with innovation

  The first part of the ad from Saatchi & Saatchi tells the story of John Lewis’s legacy via a window at the iconic Oxford Street store. Showing how the store was used during the Blitz, amazement at the first toasters to appear in London, with modern store workers helping customer’s today both highlights its place in the nation’s psyche and its resonance with today’s consumers.

• Leveraging technology for customer-centric satisfaction

  Focus technological innovations so that they help the business continue to deliver what customer’s need and relate to ­– as John Lewis has.

• Emotionally resonant campaigns

  For legacy brands like John Lewis, storytelling that draws on timeless connection, as the ad’s finalé “The Gifting Hour” did can help not only tap into the festive season but build emotional resonance for consumers.