The recent argos catalogue has gone down very well with customers, and it will not be long before the new edition comes out in the summer. The credit crunch has affected all businesses, and argos is not exception, with profits falling and people being made redundant. To fight back, argos has to offer even more low cost items becuase people just do not have the cash to spend, so the little bit they do have will almost certainly be spent wisely, and even then only on essential items.
Argos may even have to re-think their pricing policy, and also their product ranges to reflect these challenging times, for both customer and themselves. Only time will tell, and times will only get harder in the near future, with no end in sight of these hard economic times. Only the strongest will survive, and this can even help the likes of argos, who already have a strong brand awareness aa the market leader.
Smaller competition may fall by the wayside and leave argos and the other leaders in an even stronger position, as they may be the only one's left to fight for the spoils in the future. I believe this may well be the case, and then argos will really step up their high street and online presence.
Thursday, 23 April 2009
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