The advert features Moz the Monster who lives under a little boy's bed.
John Lewis spared no expense with this advert, reportedly spending a budget of seven million to make the ideal visuals.
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The advert was released on John Lewis's YouTube channel on Friday morning.
It is directed by Oscar-winning Michel Gondry whose past work includes Eternal Sunshine of the Spotless Minds and music videos for the likes of The White Stripes, The Chemical Brothers and Björk. Last week I showed it to her and she cried.
A page called UnderTheBed has been created on the social media site, and in the past week has been posting short teaser clips in the retailer's style.
To standard I think, rather than setting a new one.
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Spending on ads has surged by 37% since 2010 amid increased competition among businesses to win over British consumers in the final quarter of the year.
The pair then become friends, but the lack of sleep due to Moz's disturbance causes Joe to struggle to stay awake during the day.
Meanwhile, Asda's ad follows a girl and her grandfather visiting a festive food factory.
According to a forecast by the Advertising Association, advertising agencies are expected to spend close to £6 billion over the Christmas period - which would make it the largest ever seasonal advertising spend.
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