Wicks predicts the new label could have the same impact at John Lewis as Essential Waitrose – the grocer’s value range, now worth more than £1bn in annual sales – has had at its Partnership stablemate.

John Lewis lifted the lid on the new Anyday brand on Friday, which will be sold in stores and online from today.

The retailer said the range, which consists of 2,400 products across homewares, technology, baby care and baby clothing, is its “most affordable” ever, with average prices 20% lower than its existing own-brand lines.