Focus on Trust, Value and Retail Innovation Earns John Lewis Major Profit Boost
Thanks to a strong focus on promoting value and trust amongst consumers at its department stores and Waitrose supermarkets, as well as the success of their Christmas marketing campaign, the John Lewis Partnership has seen its annual revenues top £9billion for the first time.
Additionally, the group's market share has increased for five consecutive years due to key strategic investments, such as new online platforms for both brands, expansion of the click and collect service and greater personalisation through the 'myWaitrose' and 'my John Lewis' loyalty schemes.
The company also credits its "Never Knowingly Undersold" campaign and a new two-year warrantee on all electrical goods for the boost to its sales and profit margins.
Not resting on their laurels, the John Lewis Partnership has further plans to integrate their online and offline channels, including collection lockers at Waitrose and a trial of collection drive-through.
Chairman of the group, Charlie Mayfield, commented: "There are fundamental changes taking place in retail, especially customer attitudes towards value, convenience and personalisation. For several years we have been adapting our business to take advantage of these changes.
I am confident that however quickly the UK economy emerges from this prolonged period of slow growth, the Partnership is well positioned to continue to strengthen its competitive position and to grow market share in both Waitrose and John Lewis."