Page 5: Conclusion
When Argos was acquired by GUS in 1998, sales and profits were disappointing. Since then growth has been excellent. Annual sales grew by 13% and profits by 17% from 2002 to 2003 alone, significantly outperforming the market as a whole.
This has been a remarkable turnaround for the business, brought about by instilling insights and enthusiasm into employees, keeping the brand modern with strong identifiable values, making the service more convenient, and building a culture within the firm that wants to win.
Changes to the Argos culture and in its marketing mix have revitalised the brand and boosted its market share. Its success at motivating its staff, developing an effective advertising campaign and providing more ways for customers to buy the firm's products have all been recognised by industry awards highlighting the remarkable recovery of Argos in recent years.