General merchandise retailer Argos is set to close its home shopping channel after disappointing sales as it maintains its focus on improving its digital offering, it is understood.
Less than two years since its debut, aimed at showcasing the retailer‘s product range to a broader audience, Argos TV is to cease broadcasting as the company looks to “move upmarket”, according to the Financial Times.
In October last year, Argos outlined plans for a digital overhaul as part of a modernisation strategy and announced the closure of 75 stores across the UK following a business review aimed at promoting sustainable growth.
Moving away from its catalogue-led model, the retailer sought to target a more upmarket consumer and offer digital staples in stores such as tablets as part of the modernisation.
Argos TV was available via BSkyB and Freesat and as such could be accessed in 10 million homes, though an Argos spokesperson told the newspaper: “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.”