John Lewis was once the darling of a booming high street, but as consumers shift their attention towards online retail, both have seen their fortunes turn. Last year John Lewis notched up a £517m pre-tax loss, and permanently shuttered eight of its stores.
The retailer is launching Anyday, its “most affordable” own brand range of 2,400 products designed to undercut existing collections and attract a broader range of money conscious consumers.
The partnership is hoping to recover from a severe loss with a strategy focused on local stores, a new pricing structure and closer integration between the John Lewis and Waitrose brands.
When established brands try to move beyond their core competence it rarely works, and John Lewis’s plan to move into residential property seems poorly thought through.
Good morning and welcome to Marketing Week’s round-up of the news that matters in the marketing world today.
The industry has been telling marketers their ability to sell stuff using ads is in decline, but as well as not being particularly helpful it’s simply not true. New data shows ROI has been increasing over the past five years.
At the end of every week we look at the key stories, offering our view on what they mean for you and the industry. From a major investor calling Unilever’s focus on purpose “ludicrous” to the importance of time, it’s been a busy week. I’m stepping in for Russell this week, so here is my take.
After posting strong Christmas trading results this week, the UK’s major supermarkets are pledging to keep their prices low this year even in the face of dramatically rising costs, driven by inflation, higher wages and the cost of living crisis.