London, 2016-Sep-30 — /EPR Retail News/ — John Lewis has signalled its commitment to financial services provision by announcing its intention to launch a new ‘John Lewis Finance’ brand.
The newly-formed umbrella brand will encompass John Lewis’ growing range of financial services products – which includes insurance, foreign currency, international payments, the John Lewis & Waitrose Partnership Card and ATMs – and serve as a clearer sign-post for new and existing customers.
As part of the initial phase of the launch in October, John Lewis will introduce a series of enhancements to its Partnership Card. These will include contactless technology for new and replacement cards, a new-look Partnership Card website and the launch of a mobile app that will enable customers to easily check their card balance, points and transactions while on the go.
In addition, new customers will soon be able to apply for and receive their permanent chip and PIN card in-store on the same day, a market-leading capability for a European retailer.
Mike Jackson, Director, Financial Services, John Lewis Partnership, says: ‘We want all of our customers to know that when it comes to money matters, whether that’s travel, insurance or everyday spending, we can support them with the big events in their lives and all the small moments in between.
‘Considering the breadth of our current portfolio, we felt it was the right time to combine all of our financial services products under a single, umbrella brand as we seek to raise awareness and reach out to many more customers, offering them a greater range of products and greater value.’
Over the next 12 months the company’s full range of financial products will be integrated in to a new over-arching John Lewis Finance customer website. The high-street retailer’s finance division has grown to become an integral part of John Lewis in recent years, highlighted by the continued investment into new products and services. The business has rolled out its foreign currency service with the launch of 29 in-store Bureaux de change and a click & collect option for online orders from over 300 Waitrose locations.
Mike Jackson, says: ‘We believe the trust that our customers have in the John Lewis brand is why we’ve been able to generate higher demand for our financial products and services.
‘The launch of John Lewis Finance will reaffirm our position as a trusted alternative to traditional financial services providers and help to ensure John Lewis is on hand for our customers as their lifestyle and financial needs change.’
Notes to editors
The John Lewis Partnership – operates 46 John Lewis shops across the UK, johnlewis.com, 349 Waitrose shops, waitrose.com and business to business contracts in the UK and abroad. The business has annual gross sales of over £11bn. It is the UK’s largest example of an employee-owned business where all 88,900 staff are Partners in the business.
John Lewis – John Lewis operates 46 John Lewis shops across the UK (32 department stores, 12 John Lewis at home and shops at St Pancras International and Heathrow Terminal 2) as well as johnlewis.com. It is part of the John Lewis Partnership, the UK’s largest example of worker co-ownership and all 30,000 John Lewis staff are Partners in the business. John Lewis ‘Best In-Store Experience 2016’, ‘Best Clothing Retailer 2016,’ ‘Best Electricals Retailer 2016,’ ‘Best Furniture Retailer 2016,’ ‘Best Homewares Retailer 2016’ and ‘Best Click & Collect Retailer 2016’1, typically stocks more than 350,000 separate lines in its department stores across fashion, home and technology. Johnlewis.com stocks over 280.000 products and is consistently ranked one of the top online shopping destinations in the UK. John Lewis Insurance offers a range of comprehensive insurance products – home, car, wedding and event, travel and pet insurance and life cover – delivering the values of expertise, trust and customer service expected from the John Lewis brand.
1Verdict Consumer Satisfaction Awards 2016
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Source: John Lewis Partnership