John Lewis is to launch a new cheaper range of products amid concerns that the department store giant is not widely seen as “good value for money”.
The retailer, which will reopen its UK stores on Monday, said it aims to appeal to more younger families through the ANYDAY own brand range.
It comes weeks after the group confirmed that it will permanently shut eight of its stores – including sites in Sheffield, Aberdeen and York – as part of the major shake-up of its operations.
Since the start of last year, the John Lewis Partnership has explored new growth strategies in order to help the recovery of the loss-making department store arm.
Bosses at the retailer said they hope that widening its price range will help grow its customer base as shoppers look for “value and quality” following the economic impact of the pandemic.
Pippa Wicks, executive director of John Lewis, told the PA news agency: “We realised there were concerns that we were not always good value for money, so this is intended to directly address that.
“We want to appeal to our existing customers with a broader range of pricing but also think this will be attractive to new customers as well.”
It said the range will see prices which are, on average, 20% lower than its current own brand range, although this will be more in some categories.
John Lewis said the new range of 2,400 products, which will be available in stores from Monday, will initially focus on homeware, technology, baby care and baby clothing.
However, it said this will expand into other areas, such as men’s and women’s clothing further down the line.
The brand ranges in price from £1.50 for a face cloth to £499 for a three-seater sofa.
Ms Wicks added that some items from the range will be sold in Waitrose shops and smaller format stores currently being trialled by the group.
She said the company hopes the new products will particularly appeal to “young families” and “slightly older, post-family customers”.
“We want to challenge value perceptions of John Lewis and attract a broader group of shoppers who want to combine style and value,” she said.
“This range has been specifically designed around how our customers live today.
“Whatever they need, we will have a product which suits their budget, from space-saving products, cost-effective baby clothes and affordable technology to portable pieces renters can take with them when they move.”