John Lewis is reinstating its historic 'Never Knowingly Undersold' price pledge starting September 9, two years after it was shelved due to concerns over its relevance. The revived promise will match prices on branded goods from 25 major competitors, including Amazon and Apple, using AI technology for efficient price adjustments. This move aims to enhance customer perception of value amidst the retailer's efforts to rebound from financial struggles caused by competition with online giants and a cost-of-living crisis. The change is expected to involve adjustments to around 30,000 prices and will be supported by a significant marketing campaign. New executive director Peter Ruis emphasized the importance of this pledge for regaining market share and restoring customer trust, as previous removal led to perceptions of increased prices. The initiative reflects broader trends in retail as traditional stores adapt to modern shopping behaviors and economic challenges.