Bottom Line: Forty-year-old retailer is true pioneer in age of the internet

Elizabeth Fournier

WE DON’T think retail is dead. It is just being repositioned.” So said Ebay president Devin Wenig yesterday, as the US auction giant launched a tie-up with Argos that will see some of the latter’s 700 stores used as drop-off points for deliveries from 50 Ebay sellers.

Once again the catalogue firm – founded in 1973 as a rebranded savings stamps retailer – has proved itself more than capable of keeping up with the next generation of competition.

Having pioneered click-and-collect as far back as 2000, the service now accounts for around a third of its business and is growing fast. No financial details have been released, but Argos is confident that customers flocking to its stores will pick up more than just their Ebay package – particularly over the busy Christmas period.

This wise old man of the high-street seems determined to keep up with the kids and stay relevant. So far it’s looking streets ahead.