For near a century, John Lewis has been “by no means knowingly undersold”, however the retailer is now positioning itself as being there “for all life’s moments” because it adapts to a profound shift in spending habits pushed by Covid-19 and rising dwelling prices.
The pledge is designed to faucet into what the division retailer chain is billing because the “moments financial system”, as Britons spend smaller quantities on having fun with day-to-day life – from internet hosting a cocktail party to celebrating a canine’s birthday – reasonably than splurging on set-piece occasions corresponding to international holidays.
The retailer’s annual How we store, dwell and look report, printed on Monday, finds Britons largely put their lockdown life behind them over the previous 12 months, as work and social lives progressively returned to regular.
Ladies deserted the consolation of velour tracksuits and sports activities bras, with gross sales of underwire bras and shapewear up sharply, and demand for blazers rising by 75%.
Gross sales of ironing boards elevated by almost a fifth and “wave-styler” hair home equipment had been up by 28%. Gross sales of good menswear additionally rose by 60%.
The return of the commute additionally featured prominently, sending demand for laptop computer luggage and journey mugs up by a fifth and 65% respectively.
The retailer has additionally stopped promoting wall-mounted desks, whereas having much less time for lockdown hobbies led to gross sales of bread bins tumbling by 42%, because the sourdough love affair pale.
With weddings, festivals and household gatherings again on, gross sales of event hats soared by 168%, whereas demand for champagne flutes and wine glasses surged by 88%. Jigsaw puzzles additionally suffered from the return to enterprise as standard, with gross sales plunging by almost 70%.
Among the many main style traits is the rise of baggier boyfriend denims, up by 85%, signalling a transfer away from skinny denims after two years of leisurewear.
However Britons’ newfound love for outside swimming has turned upmarket altering robes right into a high-street development, with gross sales of the robes, made by manufacturers corresponding to Dryrobe, doubling.
The analysis additionally highlights the rise of the Netflix get together, with 1 / 4 of Britons inviting family and friends over to observe one thing throughout the previous 12 months. And the Lionesses’ victory on the European Championship in July despatched searches for soccer boots and sports activities bras hovering on the John Lewis web site.
The second sequence of Bridgerton helped corset gross sales rise by a fifth, whereas the brand new Barbie film, starring Margot Robbie, has impressed a “Barbiecore” development. Gross sales of pink lipstick and clothes have elevated by 83% and 22% respectively, leaving “no query as to what the color of 2022 can be”, the retailer mentioned.
Final month, John Lewis retired the 97-year-old “by no means knowingly undersold” worth pledge, which had turn into a hindrance in a web based world, and mentioned it’ll as an alternative concentrate on “on a regular basis high quality and worth”.
The transfer is a part of a “journey to reimagine our enterprise”, based on Pippa Wicks, John Lewis’s govt director, and is a part of a shake-up that may contain new ventures corresponding to renting flats.
The “expertise financial system”, through which individuals put their spare money in direction of making reminiscences, occurring vacation or throwing birthday events, has fuelled shopper spending for the previous twenty years.
However analysis into the purchasing habits and social media feeds of tens of millions of shoppers made it clear to the retailer that “one thing has begun to alter”, mentioned Wicks.
She mentioned: “We’re already synonymous with the massive events, from Christmas to planning a nursery. We are going to turn into the place that folks know they will come to deliver just a little pleasure to all of life’s moments.”
As the price of dwelling continues to rise, two-thirds of 5,000 individuals polled over the summer season instructed the retailer that they nonetheless need to rejoice modestly with family and friends even when their funds are underneath strain. Greater than half of respondents mentioned they would favor to spend cash on issues that made them comfortable everyday.
John Lewis plans to revamp its shops over the approaching months, so prospects can browse by “moments” reasonably than conventional departments corresponding to clothes and homewares.
Michelle Ogundehin, a TV presenter and traits professional, mentioned: “Individuals aren’t having dinner events to point out off their houses any extra. They’ll purchase desk decorations and flowers to make extra of the second. There’s a rising appreciation that we will burn an exquisite candle and sit outdoors with buddies, and don’t have to be on a seaside in Marbella.”
Event hats +168%
Altering robes +100%
Pet equipment +100%
Champagne flutes and wine glasses +88%
Boyfriend denims +85%
Ladies’s blazers +75%
Good menswear +60%
Wired bras +45%
Laptop computer luggage +20%
Ironing boards +19%
Jigsaws – 68%
Velour tracksuits – 50%
Bread bins – 42%
Non-wired bras – 33%
Microwaves – 13%
Soup makers – 12%
Wall-mounted desks – delisted