Recent developments have highlighted a playful exchange between two major retailers concerning price matching tactics.
- The Entertainer has utilised social media to highlight discrepancies in John Lewis’s pricing strategies.
- The toy retailer sarcastically referenced John Lewis’s pricing attempts relative to specific products.
- This exchange follows John Lewis’s recent relaunch of its price match initiative, ‘Never Knowingly Undersold’.
- John Lewis has employed new technology to enhance its price matching, yet faces challenges amidst competition.
A recent social media interaction has brought attention to the competitive pricing strategies between The Entertainer, a prominent toy retailer, and John Lewis. The Entertainer used its social media platform to subtly mock John Lewis’s efforts to align its prices with those of its competitors.
The playful remark from The Entertainer questioned John Lewis’s pricing capabilities through a post on X, formerly Twitter. The post featured a specific product, the Disney Wish Asha of Rosas Doll and Travel Pack, highlighting a price differential where The Entertainer listed it at £6 compared to John Lewis’s price of £9.60. This serves as evidence of the ongoing pricing competition in the retail sector.
John Lewis, led by Peter Ruis, recently reintroduced its ‘Never Knowingly Undersold’ pledge, a move aimed at reasserting its market position by ensuring competitive pricing. However, as illustrated by The Entertainer’s critique, the initiative has not been without hurdles. The reintroduction comes two years after the original pledge was discontinued, deemed insufficient in adapting to modern pricing dynamics.
In adapting to the highly competitive retail environment, John Lewis has invested in advanced technology to manage its price matching strategies effectively. Ruis announced the integration of Quicklizard, a sophisticated AI-based solution, in a multi-million pound contract. This strategic move is indicative of the increasing reliance on technology to maintain market competitiveness.
Despite the challenges faced, the relaunch of ‘Never Knowingly Undersold’ showed promising results, as stated by Ruis. There has been a significant increase in customer engagement and sales, with an additional 55,000 organic daily website visits reported. This showcases the department store’s efforts to revitalise its market presence.
The playful critique by The Entertainer underscores the delicate balance John Lewis must maintain in its pricing strategy amidst heightened retail competition.
