Argos corporate news
Argos becomes market leader in furniture according to Verdict Research
13 December 2006
A new report, "UK Furniture & Floorcoverings Retailers 2006", published last week by retail analysts Verdict Research, part of the Datamonitor Group, reveals that catalogue retailer Argos is set to become furniture market leader with a share of 6.2% in 2006.
Argos’ trading director for home and furniture, Anne Gardner, said: “We are delighted that independent research company Verdict has identified that Argos is on track to become market leader in the furniture market in 2006. Having launched an exclusive Home catalogue in 2006, furniture and home are key categories for Argos and we are committed to achieving further growth in the future. Our range, choice, value and speed of delivery proposition have clearly gone a long way to help securing this growth in market share.”
Sales figures show that Argos sells a piece of bedroom furniture every 20 seconds; a bed or mattress every 40 seconds; and a sofa every minute.**
Alastair Lockhart, senior retail analyst at Verdict Research, and author of the study, said the analysis illustrates Argos has been aggressively targeting furniture growth. “Over the last five years the retailer has expanded its furniture offer substantially with new ranges to improve customer choice, and has been incredibly busy opening new stores across the country.”
Argos’ trial of its new Home catalogue, launched in March 2006 to showcase its range of furniture products, has been extended to include approximately 200 stores. The second edition has 340 pages and contains over 3,000 products, representing furniture and home accessories in a more aspirational way. In the latest Home catalogue, increased emphasis has been given to housewares, including new sections for bathroom and kitchen ranges. Argos’ next Home catalogue will launch at the end of January 2007, to coincide with the launch of Argos’ main spring/summer catalogue.
Note to News Editors:
For more information on Argos contact Kathryn Hunter, Media Relations Manager, tel: 0845 120 4365, mobile: 0771 3064079, email: media.relations@argos.co.uk
** Based on every hour of every day
About Argos
Argos is a unique catalogue retailer recognised for choice, value and convenience. It sells general merchandise and products for the home from 680 stores throughout the UK and Republic of Ireland, online and over the telephone. In the last financial year, Argos sales topped £3.8 billion.
Argos serves over 130 million customers a year through its stores and takes four million customer orders either online or over the phone. On average, 17 million UK households, or around two-thirds of the population, have an Argos catalogue at home at any time.
Argos expects to add around 30 stores per annum with the chain expected to exceed 800 over time. Its internet site, www.argos.co.uk, is the second most visited internet retail site in the UK. Argos is Retail Week’s 2006 Online Retailer of the Year and winner of the Customer Service Initiative Award.
Argos is part of Home Retail Group, the UK’s leading home and general merchandise retailer.
