The decision by John Lewis’ new managing director Pete Ruis to restore the price pledge marks a change of direction from his predecessor.
“When we removed the price promise, people automatically assumed that all prices went up… that wasn’t necessarily the case,” said Mr Ruis.
Mr Ruis said the pledge had not been “fit for purpose” in 2022, with staff relying on pencils and spreadsheets to keep track of rivals’ prices.
The new policy will only apply to branded products, with software tracking prices from competitors, including Marks & Spencer and House of Fraser.
Mr Ruis did not say how much the reintroduction would cost the retailer.
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