The Irish Times view on the closure of Argos: how retail survives

The news that Argos is withdrawing from the Republic is devastating for almost 600 people employed across its network of more than 30 shops but it is not necessarily a sign of impending doom for Irish retail. Rather it should be viewed as an indicator of what is needed for bricks-and-mortar shops to survive in a changing world.

Going toe to toe with the internet with its virtually limitless range of products is not how traditional retail will retain – or regain – a competitive edge. Instead it must be agile and imaginative. Consumers expect that they will be served across multiple channels and offered a mix of online and physical stores as well as faster deliveries and click-and-collect options as standard. Businesses that have such a user-friendly model and make the most of their online and physical presence, give themselves the best chance of survival.

Traditional retailers have advantages over exclusively online businesses and while they may fall short when it comes to low prices or vast ranges, they can offer physical experiences, human interactions and a meaningful presence in communities. Independent, family-owned shops in particular must leverage their standing and put their importance to their would-be customers and to the broader community in the shopfront.

While times are tough for retail, there have at least been some positive straws in the wind in recent times. Grafton Street, the country’s most pre-eminent shopping street, is booming and coming close to full capacity. A mass-move towards online shopping that many predicted in a post-pandemic world has not materialised, with people keen to return to in-person shopping and footfall coming close to levels not seen since 2019.

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But complacency would be foolish and retail must work harder and push the message that value is not just about cost. Quality, provenance, accessibility and customer service matter as much if not more than the price at the check-out. Avoiding a race to the bottom on pricing must be avoided because in such a race traditional retailers will lose. When they do, we will all be poorer.