Argos is getting a makeover - but can it attract new shoppers?
Summary
Argos, a British retail chain known for its catalog shopping and quick in-store pickups, has seen declining sales and store closures due to competition from online sellers like Amazon. Its current owners, Sainsbury's, are selling Argos at a loss, while new owners plan to open more standalone shops and invest in growth opportunities.Key Facts
- Argos has been a part of British shopping for over 50 years and is used by about half of UK households.
- Competition from online retailers like Amazon has caused Argos’s sales to stagnate and led to many store closures.
- Sainsbury's, the current owner, is selling Argos for less than they paid for it 10 years ago.
- Argos made £4.1 billion in sales last year, compared to Amazon’s £32 billion in the UK.
- Argos offers same-day click-and-collect service through about 200 standalone stores and shops inside Sainsbury’s supermarkets.
- Some shoppers like Argos for its convenience and physical stores, while others find Amazon easier for delivery.
- Retail experts say Argos needs to improve its app and remind people it still exists to compete with digital-first stores.
- Argos customers have given poor ratings on Trustpilot, showing room for improvement in customer service.
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