Argos TV closing in New Modernisation Strategy
General-goods retailer Argos will close its home shopping channel following disappointing sales.
It will close the channel to focus on improving the company’s digital offering, according to the Financial Times.
Argos TV, which is broadcasted on Freesat and BSkyB, was launched only two years ago, and could potentially reach 10 million homes. It was aimed at highlighting the product range to a broader audience.
Last October, Argos outlined plans for a new digital approach as part of a modernisation strategy, which also saw the closure of 75 stores across the UK, aimed at promoting sustainable growth.
Argos has been trying to move away from the historical ‘catalogue-led’ model and is aiming to move to a more ‘upmarket’ consumer. It has recently installed digital equipment, like tablets, in stores as part of the modernisation.
An Argos spokesperson told the Financial Times: “As Argos works towards delivering its ambition to become a digital retail leader, the business has to focus its resources on priority programmes to deliver the key milestones announced to the City in October 2012.
“Through this process the future of the Argos TV trial has been assessed and the proposal is to cease operations.”
Pic Source: Argos
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